Solana Challenges Ethereum's Lead in Tokenized Real-World Assets

Source: Coindoo Original Title: Solana Challenges Ethereum’s Lead in Tokenized Real-World Assets Original Link: Solana is increasingly positioning itself as more than a high-speed retail trading chain, as institutional capital flows into tokenized real-world assets accelerated sharply at the end of 2025.

New data shows the network is carving out a meaningful role in asset tokenization, an area long dominated by Ethereum.

Key Takeaways

• Tokenized RWAs on Solana reached a new all-time high in December 2025
• Institutional products like tokenized Treasuries dominate current usage
• ETF approvals and corporate partnerships are boosting credibility
• Despite weaker price performance, Solana’s onchain fundamentals remain strong

Tokenized Assets Drive Solana’s Institutional Momentum

According to recent data, the value of tokenized real-world assets on Solana rose nearly 10% in December to approximately $873 million, setting a new record.

Solana’s RWA ecosystem reached a new all-time high of $873M in value. Tracked tokenized assets include:

• U.S. Treasury Debt
• Public Equity
• Institutional Alternative Funds
• Non-U.S. Government Debt

Entering the new year, regulated and yield-bearing RWAs continue to expand across the network.

Much of this growth has been concentrated in regulated, yield-bearing products tied to U.S. Treasuries. Offerings such as BlackRock’s USD Institutional Digital Liquidity Fund and Ondo Finance’s US Dollar Yield together account for more than $430 million in market capitalization on Solana. These products highlight how the network is being used as infrastructure for institutional-grade financial instruments rather than speculative trading alone.

Beyond Treasuries, Solana has also begun hosting tokenized equities, including synthetic representations of major public companies like Tesla and NVIDIA. While still small relative to bond products, these instruments have added tens of millions of dollars in value and point to an expanding scope of tokenization use cases.

ETFs, Corporations, and the Push Into Traditional Finance

Solana’s growing RWA footprint comes amid broader acceptance within traditional finance. Six Solana-based exchange-traded funds were approved in October 2025, helping channel roughly $765 million of institutional investment into the ecosystem. While Ethereum remains the dominant chain for tokenization with more than $12 billion in RWAs, Solana’s December surge has positioned it as a credible challenger alongside BNB Chain.

Corporate adoption is also accelerating. Western Union selected Solana as the settlement layer for its upcoming stablecoin remittance platform, which serves around 150 million customers globally and is expected to roll out in early 2026. The move reinforces Solana’s appeal as a fast, low-cost network capable of supporting large-scale financial activity.

Fundamentals Hold Firm Despite Price Weakness

While network usage is rising, Solana’s token price tells a more subdued story. The asset entered 2026 near $125, well below its January 2025 peak and down sharply from its all-time high. Still, onchain performance remains robust. Over the past 30 days, Solana-based applications generated roughly $110 million in revenue — significantly more than competing networks such as Ethereum during the same period.

Analysts see regulatory clarity as a potential catalyst for further growth. Various research firms have argued that passage of key regulatory frameworks could accelerate tokenization adoption across markets, with Solana emerging as one of the main beneficiaries. Some forecasts suggest Solana’s tokenized capital markets could expand toward $2 billion in 2026.

Solana Price Holds Firm Despite Broader Volatility

Despite mixed conditions across the broader crypto market, Solana’s price action has shown relative resilience. At the time of writing, SOL is trading near $128.7, posting gains across short- and medium-term timeframes, including a weekly advance of over 5%.

The asset’s market capitalization stands above $72.5 billion, supported by healthy daily trading volume of roughly $3.4 billion. While SOL remains well below its early-2025 peak, the recent stabilization suggests that downside pressure has eased, with price increasingly supported by improving fundamentals such as rising onchain revenue, institutional adoption, and expanding real-world asset activity. This divergence between price recovery and ecosystem growth may position Solana for a stronger repricing if broader market sentiment turns more decisively risk-on.

As 2026 unfolds, Solana’s growing role in real-world asset tokenization suggests its next phase of growth may be defined less by speculative cycles — and more by its integration into the plumbing of global finance.