Stellar and Solana Lead Tokenized Fund Growth With $1.42 Billion Added in 90 Days
Tokenized funds are growing — and the growth is not landing where most people expected
Stellar and Solana added a combined $1.42 billion in on-chain tokenized fund assets under management over the past 90 days, according to network-level figures reported by BSC News, putting the two non-Ethereum networks ahead of every Ethereum layer-2 and Aptos in the same period. Stellar now leads the group in total tokenized fund value at $757.5 million, with Solana close behind at $670 million. Arbitrum gained $193.2 million, Aptos added $133.6 million, and Base, the Ethereum layer-2, posted the smallest increase at $46.1 million. The split matters because it challenges a simple assumption: that tokenization, as it scales, will naturally concentrate on Ethereum and its layer-2s. Over this 90-day window, it did the opposite — the fastest tokenized-fund growth happened on chains built for fast, cheap settlement, not on the Ethereum rollup stack.
What "tokenized fund" means here, and why the numbers differ by source
A tokenized fund puts units of a traditional fund — often a money-market or Treasury fund — on a blockchain as tokens, so ownership, transfer and settlement can happen on-chain instead of through days of back-office processing. Figures vary by provider because platforms define tokenized funds, real-world assets and tokenized Treasuries differently, and the BSC News figures should be read as network-level tokenized-fund value, not as the whole tokenized-asset market. That wider market is bigger: RWA.xyz data cited by DeFi Development Corp. shows tokenized real-world assets on Solana alone recently passed $5 billion for the first time, reaching about $5.1 billion in late October. Stellar has also grown quickly this year — Finbold, citing RWA.xyz, reported Stellar carried $868.8 million at the end of 2025 and held roughly $3.3 billion on a distributed-value basis by late summer, a fourfold expansion in eight months. The lesson is not to compare one dashboard's number with another's, but to watch the direction on each dashboard: on the tokenized-fund measure, Stellar and Solana are pulling away; on the broader real-world-asset measure, Solana has crossed a milestone that no other chain in this group has matched.
Stellar: $757.5 million in tokenized fund value, leading the group.
Solana: $670 million in tokenized fund value, plus about $5.1 billion in broader tokenized real-world assets.
Arbitrum: $193.2 million added over 90 days — solid, but far behind the leaders.
Aptos: $133.6 million added; Base: $46.1 million added, the smallest gain in the group.
Why Stellar and Solana are winning this particular race
Speed and cost are the obvious explanation, but they are not the whole one. Tokenized funds are an institutional product: fund managers care about settlement finality, compliance tooling, custody and distribution, not just raw throughput. Stellar's long history in payments and asset issuance gives it a head start with regulated issuers, while Solana's deep liquidity and developer ecosystem make it easier to build yield, lending and trading products around a tokenized fund once it exists. Ethereum's layer-2s, by contrast, split liquidity across many chains — Arbitrum, Base and others each hold a slice, and none of them individually matches Stellar or Solana on this measure. That fragmentation is a feature for general-purpose scaling, but a drawback when a fund manager wants one deep, liquid home for its token. Our earlier coverage of the infrastructure side of this shift is here: https://zimbuck.com/blogs/784/DTCC-Brings-Wall-Street-On-Chain-Tokenization-Service-Goes-Live — and the product side, where tokenized stocks are already trading on-chain, here: https://zimbuck.com/blogs/860/Pendle-Climbs-to-Second-Largest-DeFi-Venue-for-Tokenized-Stocks
What to watch next
Three questions will decide whether this 90-day lead becomes a durable one. First, do weekly inflows hold near the recent pace, or was this a one-off issuance wave? Second, do the tokenized funds on Stellar and Solana develop secondary markets — lending, collateral use, trading — or do they sit as static holdings? A token that cannot be used elsewhere in DeFi is only half a product. Third, does regulation widen or narrow the field: tokenized funds live or die on their legal wrappers, and a single major jurisdiction's ruling can move issuance from one chain to another overnight. For readers, the practical takeaway is simpler: tokenization is no longer a single-chain story. The chains winning the current wave are the ones that make issuance, settlement and onward use cheapest and simplest for the fund manager — and right now, on the tokenized-fund measure, those chains are Stellar and Solana.
FAQ
What is a tokenized fund? A traditional fund whose units are issued as blockchain tokens, allowing on-chain ownership, transfer and settlement.
How much did Stellar and Solana add? A combined $1.42 billion in tokenized fund value over 90 days — Stellar $757.5 million in total, Solana $670 million.
Why do different sources show different totals? Because they define tokenized funds, real-world assets and tokenized Treasuries differently; compare trends within one source, not totals across sources.
Does this mean Ethereum layer-2s are losing? Not overall — but on this specific tokenized-fund measure over this 90-day window, Arbitrum ($193.2M added) and Base ($46.1M added) trailed well behind.
Is tokenization still small? Yes, relative to traditional fund markets — but crossing $5 billion in tokenized real-world assets on Solana alone shows it is no longer an experiment.
Read more on Zimbuck: https://zimbuck.com/pages/zimbucknews and join the discussion at https://zimbuck.com/groups/zimbuckmarketnews . Source for this story: BSC News, Stellar and Solana Lead Tokenized Fund Growth With $1.42 Billion Added in 90 Days, https://bsc.news/news/stellar-solana-lead-tokenized-fund-growth . This is market news and general information only, not financial advice. Join Zimbuck at https://zimbuck.com to follow more blockchain coverage.
