Weekly Report · Week 38, 2026
State of Tokenization
Sep 14 – Sep 20, 2026
This week in tokenized RWAs
- 498 new issuer-tokens appeared in CoinGecko's RWA data this week, led by Reality (487).
- Reality added $118.6M in tokenized market cap, the largest gain of any issuer.
- Ondo Finance shed $132.4M, the largest decline.
Biggest issuer moves
Change in each issuer's total tokenized market cap from 2026-09-14 to 2026-09-20. Share is of all tracked tokenized stocks, commodities and ETFs. That total grows as coverage expands, so a share can dip while market cap rises.
| Issuer | Market cap | Change | Share |
|---|---|---|---|
| Ondo Finance | $777.33M | −$132.4M | 11.2% → 9.3% |
| Reality | $128.94M | +$118.57M | 0.1% → 1.5% |
| BTech Holdings Limited | $577.37M | +$66.34M | 6.3% → 6.9% |
| Tether | $2.84B | +$51.1M | 34.4% → 34.0% |
| Paxos Global | $1.89B | +$35.99M | 22.9% → 22.7% |
| Kinesis Money | $585.2M | +$26.67M | 6.9% → 7.0% |
| xStocks | $751.6M | +$7.57M | 9.2% → 9.0% |
| Goldfish | $87.9M | +$6.23M | 1.0% → 1.1% |
Newly listed tokens
498 issuer-tokens first appeared in CoinGecko's RWA data this week. That's the date CoinGecko began tracking each one, which can be later than its actual launch. By issuer: Reality (487), xStocks (3), Backpack Securities (3), Dinari (3), BTech Holdings Limited (2).
Showing the 25 with the largest underlying markets. Full feed →
How this report is built. Every figure comes from RWAstats' daily snapshots of the CoinGecko API (/rwas/*, /coins/categories), recorded on the day and never backfilled. Sector and largest-asset tables start with the week of Sep 28, 2026, when weekly snapshots began. See the methodology.