CoinShares report shows RWA deposits tripling to $7.4B

cryptonews09-24 19:07

Tokenized real-world asset deposits have more than tripled to $7.4 billion between Q2 2025 and Q2 2026 even as total DeFi deposits fell approximately 15%, according to CoinShares and Token Terminal. ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinShares report shows RWA deposits tripling to $7.4B\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-24 19:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/coinshares-report-shows-rwa-deposits-tripling-to-7-4b/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tokenized real-world asset deposits have more than tripled to $7.4 billion between Q2 2025 and Q2 2026 even as total DeFi deposits fell approximately 15%, according to CoinShares and Token Terminal.\n\n...</p>\n\n<a href=\"https://crypto.news/coinshares-report-shows-rwa-deposits-tripling-to-7-4b/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TEKX","symbol_name":"SPDR Galaxy Transformative Tech Accelerators ETF","start_time":0,"source_url":"https://crypto.news/coinshares-report-shows-rwa-deposits-tripling-to-7-4b/","article_id":"2669621224","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/coinshares-report-shows-rwa-deposits-tripling-to-7-4b/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2669621224","pubTimestamp":1790248078,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Tokenized real-world asset deposits have more than tripled to $7.4 billion between Q2 2025 and Q2 2026 even as total DeFi deposits fell approximately 15%, according to CoinShares and Token Terminal.RWA deposits climbed from $2.3 billion to $7.4 billion while total DeFi deposits fell 15%.RWA spot trading rose roughly 220% year over year as aggregate DEX volume dropped 70%.Ethereum hosted nearly 70% of RWA deposits, supported by established lending liquidity and borrower demand.CoinShares CEO Jean-Marie Mognetti described the company’s thesis as “finance is not being disrupted but rewired,” linking tokenized assets with DeFi lending, trading venues and high-performance blockchains. The statement represents CoinShares’ interpretation of the data, while the underlying usage figures come from Token Terminal.Ethereum accounted for almost 70% of measured RWA deposits. Plasma ranked second in the report, helped by Aave’s expansion beyond Ethereum, while Kamino supported Solana’s share of the m","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"TEKX":"SPDR Galaxy Transformative Tech Accelerators ETF","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","BITW":"Bitwise 10 Crypto Index ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","BHYP":"Bitwise Hyperliquid ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","STCE":"Schwab Crypto Thematic ETF","TETH":"21Shares Ethereum ETF","ETHT":"ProShares Ultra Ether ETF","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","FETH":"以太币ETF-Fidelity","SETH":"1倍做空以太币期货ETF-Proshares","ESK":"REX-Osprey ETH + Staking ETF","BKCH":"AdvisorShares Sabretooth ETF","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETCO":"Grayscale Ethereum HIGH Income ETF","BITQ":"Bitwise Crypto Industry Innovators ETF"},"translate_title":"CoinShares 报告显示 RWA 存款增加两倍至 $7.4B","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BITQ":0.9,"LFGY":0.9,"CRPT":0.9,"ETCO":0.6,"FETH":0.6,"ETHT":0.6,"SETH":0.6,"BITW":0.9,"BKCH":0.9,"GDLC":0.9,"ETQ":0.6,"STCE":0.9,"ESK":0.6,"ETHI":0.6,"TEKX":0.64,"BHYP":0.82,"TETH":0.6},"content_text":"Tokenized real-world asset deposits have more than tripled to $7.4 billion between Q2 2025 and Q2 2026 even as total DeFi deposits fell approximately 15%, according to CoinShares and Token Terminal.\n\n\nSummary\n\n\n\nRWA deposits climbed from $2.3 billion to $7.4 billion while total DeFi deposits fell 15%.\nRWA spot trading rose roughly 220% year over year as aggregate DEX volume dropped 70%.\nEthereum hosted nearly 70% of RWA deposits, supported by established lending liquidity and borrower demand.\nTradeXYZ RWA perpetual volume increased roughly twentyfold since launch despite weaker crypto-native derivatives activity overall.\nTokenized stock market capitalization reached $3.5 billion by September, extending growth beyond CoinShares’ June snapshot.\n\n\n\nCoinShares, in its Aug. 6 Hybrid Finance report produced with Token Terminal, reported that tokenized funds, stocks and commodities kept gaining usage across lending, spot markets and perpetual futures during a period of weaker crypto-native activity. The report covers distributed assets that can move outside the issuing platform and excludes networks such as Canton and Provenance from its main analysis.\nCoinShares CEO Jean-Marie Mognetti described the company’s thesis as “finance is not being disrupted but rewired,” linking tokenized assets with DeFi lending, trading venues and high-performance blockchains. The statement represents CoinShares’ interpretation of the data, while the underlying usage figures come from Token Terminal.\nRWA collateral grew while DeFi deposits contracted\nBetween Q2 2025 and Q2 2026, RWA deposits across lending protocols and decentralized exchanges rose from $2.3 billion to $7.4 billion. Over the same period, total DeFi deposits fell around 15%, according to the report. CoinShares attributed part of the DeFi decline to withdrawals and lower crypto asset prices.\n\nTokenised assets are moving beyond issuance.Recent developments around Hyperliquid and Morpho show more activity moving into trading and lending.Our latest Hybrid Finance research with @tokenterminal looks at how that shift was already taking shape onchain.See the data… pic.twitter.com/nfKy5gzsQw— CoinShares (@CoinSharesCo) September 24, 2026\n\nTokenized Treasury and multi-strategy products supplied much of the RWA collateral. The report named JTRSY, BlackRock’s BUIDL and sUSDS among the largest contributors, followed by private-credit products including JAAA, syrupUSDT, syrupUSDC and PRIME. Delta-neutral product sUSDe contributed another source of deposits.\nYield-bearing collateral remained concentrated on Aave, Morpho and Kamino. CoinShares said investors can continue earning income on some of those assets while using them for borrowing, lowering the opportunity cost of posting collateral.\nEthereum accounted for almost 70% of measured RWA deposits. Plasma ranked second in the report, helped by Aave’s expansion beyond Ethereum, while Kamino supported Solana’s share of the market.\nTokenized trading kept growing as crypto volume fell\nSpot activity showed a similar divergence. Aggregate DEX trading volume, still dominated by crypto-native assets, fell approximately 70% year over year. RWA spot volume increased roughly 220% over the same Q2-to-Q2 period, although it started from a much smaller base.\nTokenized gold and funds generated much of the activity. CoinShares identified XAUT and PAXG as major contributors, while sUSDe volume increased after liquidity moved from Uniswap v3 to Uniswap v4. Tokenized equities were beginning to represent a larger share by the end of the measurement period.\nMore recent Token Terminal data indicates that equity activity continued growing after the CoinShares cutoff. On Sept. 8, Token Terminal measured tokenized stocks at a $3.19 billion market capitalization, with 6.3% deposited in DeFi and $9.70 billion traded on DEXs during the preceding 30 days.\nOn Base, tokenized stock DEX volume later reached $730.9 million over 30 days, with daily activity touching $100 million. In related coverage, crypto.news reported on Base tokenized stock volume reaching a new daily record, based on Token Terminal data from September.\nRWA perpetual markets are expanding faster than spot use\nPerpetual futures produced one of the strongest growth readings in the CoinShares study. Volume on TradeXYZ, an RWA-focused venue operating through Hyperliquid, increased approximately 20 times from launch while crypto-native perpetual activity weakened after October 2025.\nCommodities, equity indexes and technology stocks accounted for much of the derivatives volume. Oil and precious metals generated heavy turnover, while S&P 500 and Nasdaq-100 contracts gave traders index exposure. Semiconductor stocks represented another active segment, according to the report.\nOpen interest grew alongside turnover. CoinShares said equity indexes and semiconductor stocks held a larger share of outstanding positions than commodities, even when commodities generated high trading volume. SK Hynix became one of TradeXYZ’s larger markets after listing.\nFresh September data shows that the trend continued beyond Q2. CryptoRank reported on Sept. 22 that perpetual DEX open interest had reached $19 billion, with RWA contracts accounting for roughly 24% of total open interest, up from around 6% at the start of 2026. The number of RWA markets across perpetual DEXs had surpassed 1,000.\nTwo days later, RWA perpetual DEX trading volume for Q3 reached $365 billion, up 32% quarter over quarter. Public equities contributed approximately $175 billion, close to 48% of the total. Crypto.news covered the $365 billion Q3 RWA perpetual DEX volume on Sept. 24.\nHyperliquid leads venue revenue despite lower sector income\nCoinShares found that application revenue across lending and trading venues declined between Q2 2025 and Q2 2026 even while RWA activity increased. Crypto-native borrowing and trading still generated most venue revenue, leaving RWA growth too small during the period to offset lower activity elsewhere.\nHyperliquid generated the most application revenue among the venues included in the report. CoinShares attributed the gap to its derivatives trading activity and to Hyperliquid operating both the exchange and underlying settlement infrastructure.\nLending protocols showed a different revenue profile. Morpho, which CoinShares described as the second-largest lending platform in the comparison, lacked a protocol-level take rate, limiting the direct revenue captured from activity. Trading venues including Hyperliquid, Uniswap and Aerodrome carried the highest revenue multiples in the report’s valuation comparison.\nMore recent TradeXYZ data has strengthened the derivatives side of the picture. An independent Hyperliquid Research Collective report said the venue processed $202.36 billion during Q2, up 79.2% quarter over quarter, while equity perpetual volume rose 377% to $58.9 billion. Crypto.news reported on the TradeXYZ volume increase to $202 billion earlier in September.\nTokenized stocks are drawing faster retail participation\nCoinShares found large differences in how investor groups use RWA products. Institutional products such as BlackRock’s BUIDL carried average wallet balances in the tens of millions of dollars, while xStocks balances were much smaller and more consistent with retail participation. The report cautioned that one wallet does not necessarily represent one investor.\nTokenized equities recorded the fastest holder growth among the RWA categories studied. CoinShares linked the faster expansion to smaller investment sizes, while institutional products attracted larger balances from fewer wallets.\nThe report put tokenized-stock value at roughly $2.2 billion during its measurement period. By Sept. 22, CryptoRank measured tokenized stock market capitalization at $3.5 billion, led by BNB Chain with approximately $1 billion, followed by Ethereum and Solana. CryptoRank said the three networks represented around 70% of its measured tokenized-equity market.\nCoinShares measured yields across selected RWA strategies between approximately 3.2% and 5.5%. Tokenized Treasury funds sat near the lower end, while private credit, lending markets, vaults and delta-neutral funding strategies offered higher yields with different risk profiles.\n\n\n\n\n\n                Read more:\n            \n\n                TRON based MeshWallet raises $10M for gasless USDT wallet expansion","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2669621224","isCrawlerRequest":true}