US Treasurys lead tokenization wave as CoinShares predicts 2026 growth
CoinShares said tokenized RWAs jumped 229% in 2025, led by US Treasurys, and it expects dollar-yield demand to keep driving onchain growth into 2026.
Digital asset investment company CoinShares predicted that a surge in tokenized real-world assets (RWAs) in 2025 will continue into 2026, driven by increasing global demand for dollar yield.
In its 2026 Digital Asset Outlook report, CoinShares said tokenized RWAs saw strong growth in 2025, led by tokenized US Treasurys. According to the report, onchain Treasurys have more than doubled this year, climbing from $3.91 billion to $8.68 billion. Private credit nearly doubled as well, rising from $9.85 billion to $18.58 billion over the same period.
“Tokenisation has materially moved beyond the longtime narrative of crypto enthusiasts,” CoinShares digital asset analyst Matthew Kimmell said. “Real assets, issued by reputable firms, receiving material investment. Even real regulators engage with crypto rails as credible infrastructure.”