Tokenized RWA Deposits Triple to $7.4B as DeFi Shrinks 15%
What happened: According to a joint CoinShares and Token Terminal report, tokenized real-world asset (RWA) deposits on DeFi platforms more than tripled from $2.
What happened: According to a joint CoinShares and Token Terminal report, tokenized real-world asset (RWA) deposits on DeFi platforms more than tripled from $2.3 billion in Q2 2025 to $7.4 billion in Q2 2026. In contrast, total DeFi deposits fell by approximately 15% over the same period. RWA spot trading volume rose 220%, led by gold-backed tokens, while DEX spot volumes declined 70%.
Why it matters: The data suggests a growing preference for on-chain exposure to traditional assets, even as broader DeFi activity contracts. CoinShares frames this as "Hybrid Finance," with investors moving traditional assets onto faster-settling blockchain infrastructure rather than abandoning TradFi altogether. The concentration of RWA activity on Ethereum, with emerging competition from Plasma and Solana, points to evolving infrastructure dynamics.
Source: The Block