Tokenized institutional alternative funds (IAFs) have experienced explosive growth, jumping 47% in the last 30 days to reach $1.74 billion, according to real-world asset (RWA) tracker RWA.xyz.
Centrifuge Leads Market Expansion
The surge was driven primarily by Centrifuge, which saw its market cap rise 252% to $704 million, securing 40.4% market share for tokenized IAFs.
Alongside IAFs, Centrifuge also boasts $400 million in tokenized U.S. Treasury products, bringing its total value locked (TVL) to over $1 billion. This achievement places Centrifuge in the same league as BlackRock’s BUIDL fund and Ondo Finance, both of which have crossed the $1 billion RWA milestone.
- Securitize: $652 million across 14 tokenized IAFs (37.5% market share).
- Superstate: $206 million in value.
- OnRe: $102 million in fund value.
These platforms collectively represent a significant portion of the rapidly growing RWA tokenization market, which aims to bring traditional financial assets onto the blockchain.
Ethereum Dominates Tokenized Funds
Ethereum remains the leading blockchain for tokenized IAFs, hosting $1 billion in value, which accounts for over 50% of the entire market.
Other networks include:
- Mantle: $218.8 million
- ZKsync Era: $214.8 million
- Solana: $135.2 million
- Plume: $59.2 million
- Avalanche: $41.2 million
What Are Institutional Alternative Funds?
Institutional alternative funds (IAFs) are professionally managed investment vehicles that allocate capital into non-traditional assets like hedge funds, private equity, venture capital, private credit, and real estate.
Tokenizing these funds brings them to the blockchain, providing benefits such as faster settlement, greater transparency, and broader investor access.
Despite the rise in tokenized IAF value, monthly active addresses dropped 50% to 21,867, while the number of holders increased by 13.5% to 114,922.
This suggests institutional consolidation into fewer addresses and new long-term investors entering the market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.