The active market in the real world tokenized (RWA) is experiencing a spectacular redistribution in 2025. Solana has been showing growth of 218 % since January, eclipstating the progression of Ethereum which is limited to 81 %. Could this rise in power redefine the hierarchy of blockchains in this strategic sector?
In short
- The value of RWA on Solana jumped 218 % in 2025, reaching $ 553.8 million.
- Ethereum retains its domination with $ 7.7 billion, but only increased by 81 %.
- Ondo Finance's tokenized treasury bills are driving this growth over Solana.
Solana catches up with Ethereum on the tokenized asset market
Since January 2025, Solana has posted remarkable performance. Its tokenized asset value has tripled, leaping by 218 % to 553.8 million dollars, according to Rwaxyz. This growth largely eclipses that of Ethereum.
Ethereum remains the undisputed leader with $ 7.7 billion in tokenized assets. But its 81 % progression seems shy against Solana sprint. This difference marks a turning point in the choices of institutional investors.
Why is Solana attracting so much? Its derisory transaction costs and ultra-fast regulations appeal to traditional financial actors. These technical advantages make all the difference for applications at high volume.
THE last report of the Messari research company confirms this trend:
Rwa at yield is the most important segment and the fastest growth in the RWA landscape of Solana.
Acceleration intensifies Even, with an increase of 22 % last month only.
Ondo Finance, the catalyst for this revolution
Ondo finances this transformation. Indeed, its two star products, Ousg and USDY, represent $ 248 million. They thus control 60 % of the RWA market on Solana.
How does Ondo work? The company is based on Buidl de Blackrock, the giant of the tokenized funds with 2.8 billion dollars. Ousg uses digital American treasury bills. USDY offers stablecoin that generates interest thanks to state obligations.
This “two in one” formula is a hit with institutional investors. Indeed, they take advantage of the solidity of American government assets and the flexibility of DEFI protocols. The gains far exceed conventional banking booklets, a major asset when rates go up.
In addition, the ecosystem is also enriched with Onc, a reinsurance pool connected to the Susde d'Ethena. This diversification strengthens Solana's attractiveness for traditional financial actors.
Solana shakes up the order established in Rwa. Admittedly, Ethereum keeps his crown, but sees his advance melt in the face of the technical efficiency of his rival. This battle could redraw the landscape of decentralized finance.
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