The value of real-world assets (RWA) on Solana has surpassed $4 billion, setting an all-time high for the network.

On Aug. 23, blockchain media outlet U.Today reported that Solana's recent surge came alongside an expansion in the supply of tokenised stocks circulating on Solana.

The record is drawing attention because a market that was still small in early 2024 has grown into an ecosystem worth several billion dollars in a little over 2 years. Solana's RWA ecosystem now encompasses tokenised Treasuries, listed equities, private credit, reinsurance, Treasuries, commodities, liquidity funds and stablecoin payment infrastructure.

The pace of growth was especially evident in tokenised stocks. As of late July 2026, 97 percent of cumulative on-chain spot trading volume in tokenised stocks was settled on Solana. That suggests Solana is emerging as a core network for distribution and secondary trading of tokenised stocks.

The increase in total value was also large. Solana's non-stablecoin RWA value rose to $4 billion from $2.01 billion at the end of the first quarter of 2026. That amounts to an increase of close to 100 percent in less than half a year.

The holder base also grew. Based on rwa.xyz data, Solana now has 347,944 RWA holders. Solana has also established itself as a key network where major global issuers list tokenised Treasury products.

Circle launched USYC, a tokenised money market fund, on Solana in October 2025. USYC is cited as one of the world's largest tokenised Treasury products. BlackRock's institutional USD Digital Liquidity Fund, BUIDL, also expanded to Solana in March 2025 via Securitize.

Ondo Finance operates 2 Treasury-linked products on Solana. USDY is a tokenised bond backed by short-term U.S. Treasuries and bank demand deposits, while OUSG provides exposure to short-term U.S. Treasuries and has a structure with a large allocation to BlackRock's BUIDL fund.

VanEck's short-term U.S. Treasury product VBILL launched on Solana in May 2025 via Securitize. Franklin Templeton's BENJI also came to Solana in February 2025. BENJI is the token of the Franklin OnChain U.S. Government Money Fund and is the first U.S.-registered mutual fund to use a public blockchain as a system of record.

Against this backdrop, Solana is continuing its RWA expansion by absorbing both tokenised stocks and Treasury products. With spot trading in tokenised stocks concentrated on Solana and major issuers bringing Treasury-linked products onto the network, the pace at which total RWA value grows further is becoming a key point to watch.

Solana's RWA ecosystem hit a new ATH: $4B+ in total value pic.twitter.com/mfH1wbCoBS