Token adoption of ETFs has accelerated over the last 30 days. However, growth has been uneven across blockchain networks. In fact, at the time of writing, BNB Chain led the way with $80.9 million in market value added.
This uptick seemed to clearly outpace Solana’s [SOL] $12.5 million value growth, reinforcing BNB Chain’s growing leadership.
Smaller increases on Base and Robinhood chains also hinted at the broader expansion of the market. On the contrary, Ethereum [ETH] and Arbitrum [ARB] both recorded net declines of $2.1 million and $4.5 million, respectively.
Worth pointing out, however, that adoption remains somewhat concentrated rather than spread evenly.
This divergence means that issuers now increasingly favor faster-growing ecosystems. It is also evidence of greater competition for the issuance of token ETFs. If BNB Chain maintains this momentum, it could strengthen its position as a leading provider of infrastructure. Competing networks may need issuance activity to reclaim market share.
Tokenized treasuries extend their lead
Token ETFs that have tokens have seen competition across blockchains. However, at press time, token U.S treasuries seemed to underline a different pattern. Institutional capital has been flowing to leading issuers, rather than spreading evenly throughout the market.
For instance, institutional capital has continued to flow towards established leaders such as Securitize, who added $580 million in the last 30 days alone.
However, in comparison, the total contributions made by JP Morgan and Franklin Templeton were $105.1 million and $95.4 million, respectively.
This gap means that institutions still value scale, liquidity, and operational maturity when allocating capital on the blockchain. This trend also lines up with Securitize’s overall dominance supported by nearly $5 billion locked and BlackRock’s $3.5 billion BUIDL fund.
If this trend continues, tokenized treasuries could remain the main way institutional investors adopt real-world assets.
Expansion of tokenization
That leadership is also reshaping the broader tokenized asset market. Rather than concentrating capital in just one segment, institutions are gradually branching out into additional asset classes. Equity and ETF tokens now total about $1.9 billion, while private credit and commodities are also gaining more interest.
In fact, the active RWA market has grown to between $29 billion and $37 billion. Broader participation means institutions increasingly see tokenization as financial infrastructure and support sustained expansion of the market beyond relying solely on government debt.