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Dune report finds tokenized markets often diverge from the assets they reference

globenewswire.com
V Visa is mentioned as a trusted industry leader by Dune, a company that published a report on tokenized markets. The mention is in the context of Dune's client base and does not directly comment on Visa's performance or business. WT WisdomTree is mentioned as a trusted industry leader by Dune, a company that published a report on tokenized markets. The mention is in the context of Dune's client base and does not directly comment on WisdomTree's performance or business. SPGI S&P Global is mentioned as a trusted industry leader by Dune, a company that published a report on tokenized markets. The mention is in the context of Dune's client base and does not directly comment on S&P Global's performance or business. UBS UBS is mentioned as a trusted industry leader by Dune, a company that published a report on tokenized markets. The mention is in the context of Dune's client base and does not directly comment on UBS's performance or business.

Dune report finds tokenized markets often diverge from the assets they reference NEW YORK, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Tokenized real-world assets have passed $34 billion, but most of that money is sitting still. A report published today by Dune finds that tokenized cash, the largest asset class onchain, barely trades, while tokenized stocks, just 8% of the market, account for 93% of onchain trading.

Tokenized assets grew 141% in the year to August. The report looks past that headline figure to ask what happens after issuance: how much of the stock is actually used, and whether onchain markets move like the traditional markets they track. Across cash equivalents, credit, commodities and equities, the answer is often no.

The report uses Dune’s new RWA dataset to examine real-world exposures onchain across their tokenized and synthetic forms, covering spot assets, perpetuals and, through Dune’s prediction markets dataset, event contracts. This provides a more complete view of how traditional assets and their underlying drivers are represented and traded onchain.

After Issuance: Reading the Onchain RWA Market covers the period to 31 August 2026 and is available here.

About Dune

Dune is the industry standard for onchain data. We provide structured, institutional-grade blockchain datasets across stablecoins, RWAs, tokens, lending, trading, payments, and more. Access data from 130+ chains — and counting — and deliver it anywhere you work. Trusted by 1,000+ industry leaders, including Visa, WisdomTree, S&P, UBS, and Bloomberg.

Media contact

Alsie Liu, Dune alsie@dune.com