Top RWA Issuers by Capital Deployed

Capital deployed is the total value of real-world assets an issuer has tokenized and placed onchain. Not AUM, not revenue: active capital put to work.

• BitGo – $9.5B (+6.4%)
• Ondo Finance – $3.8B (+5.6%)
• Securitize – $3.3B (-14.1%)
• Spark – $3.1B (+21.7%)
• Spiko – $2.7B (+6.6%)
• BlackRock – $2.2B (-20.2%)
• Tradable – $1.7B (-24.9%)
• Grove – $1.4B (-31%)
• WisdomTree – $1.2B (-0.3%)
• Superstate – $1B (+10.6%)

The board has flipped since our last ranking. BitGo pulled further ahead at $9.5B, up from $7.4B, and the two largest issuers are growing again. Spark jumped from #7 to #4, and Spiko went from #9 to #5 after more than doubling its capital.

Last time’s risers went the other way: BlackRock (-20.2%) and Tradable (-24.9%) are now among the biggest decliners, and Grove lost 31%. WisdomTree entered at #9, replacing Centrifuge.

Data source 🔗 tokenterminal.com/explorer/metrics/capital-deployed

Top 7 Perks | Variational Points +12% | Nado Private Invite | Kolo Free Card Issuance | $20 in KAST Points