Tokenized RWA market dropped $211M over seven days. A $674M loss in tokenized funds erased gains in commodities and stocks. Gold-backed tokens led commodities higher, Token Terminal data show.
Tokenized real-world asset market caps fell $211M in the seven days through Aug. 24, pulled lower by a $674M drop in tokenized funds that erased gains in commodities and stocks, according to Token Terminal data.
Tokenized commodities added $298M, led by gold-backed tokens such as Tether's XAUT and Paxos's PAXG. The tokenized commodities market cap reached about $7.5B earlier in August, up from $1.5B a year ago. Tokenized stocks rose $166M. Bybit added Meta and Tesla tokenized equities in July, a sector that hit $1.48B.
Tokenized funds lost $674M. The decline was broad-based rather than tied to a single issuer, the data show. Tokenized funds include money market funds and bond funds, which have seen varying demand this year.
Gold-backed tokens are each backed by a fixed amount of physical gold held in reserve, with the token price tracking the commodity.
The three categories moved independently in the week. The independent moves show different investor demand for gold exposure versus yield products, Token Terminal data show.
The combined gross change across the three categories totaled $1.14B, with funds accounting for the largest single move. The net $211M decline left the combined RWA market cap lower for the week, with commodities and stocks unable to offset the funds category's losses, according to Token Terminal.
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