The tokenized RWA market, excluding stablecoins, has grown 18.1x over the past three years to $44.6 billion.
U.S. Treasury bills lead at $15.1 billion, followed by yield or active strategies at $8.9 billion and credit funds at $6.4 billion.
Source
Source for the "RWA market overview" chart: https://tokenterminal.com/explorer
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