The number of holders of tokenized real-world assets has reached a record 3.67 million, according to the latest market snapshot, with tokenized stocks accounting for more than 80% of user-owned tokenized assets.

About 2.96 million holders have been registered in tokenized stocks, making that segment by far the largest part of the market. Tokenized commodities rank second with about 332,000 holders, while tokenized U.S. Treasury bonds have around 73,000 holders.

The data also showed 5,246 tokenized stock assets with a combined value of $2.89 billion, up 14.03% over the past 30 days. Across all tokenized assets, total value reached $386.92 billion, a monthly increase of 3.63%.

That growth was not matched by the subset of assets that can be directly transferred between wallets. Their value rose 1.54% to $39.15 billion. In tokenized stocks, the number of holders jumped 159.31% over the past 30 days, but monthly transfer volume fell 50.96% to $13.14 billion, while active monthly addresses dropped 48.36% to 760,339.

Activity in derivatives tied to the sector also softened. Trading volume of perpetual contracts related to real-world assets fell 13.5% in August to $122 billion. Ondo led platforms with $860 million, according to the same data snapshot.

Why It Matters

The figures add to the case that tokenized assets are reaching a broader user base, particularly through tokenized stocks. At the same time, the divergence between holder growth and weaker transfer activity suggests adoption metrics in RWA should be read carefully. Rising wallet counts do not necessarily mean deeper liquidity, stronger secondary trading, or wider on-chain utility.

For the market, that distinction is important because tokenization narratives increasingly depend on whether assets can move efficiently across wallets, venues and products. If growth remains concentrated in non-transferable or lightly used formats, the sector may expand in headline size faster than it improves in actual market structure.