According to Token Terminal data, the total market cap of tokenized funds has reached approximately $34.7 billion, with nearly a third of that value sitting on chains outside the three dominant platforms. Ethereum leads with $17.7 billion (51.2%), followed by BNB Chain at $4.8 billion (13.9%) and zkSync Era at $3.2 billion (9.2%). The remaining 27%, approximately $9 billion, is distributed across Stellar ($2.2B), Solana ($1.9B), Avalanche ($1.5B), and Injective ($1.1B). Traditional asset managers including BlackRock and Franklin Templeton have moved from pilot programs to live products, driving substantial growth through 2025 and into 2026.
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