Ethereum RWA Share Falls Near 40% as Solana BNB Stellar and Avalanche Gain
By Crypto Wire
October 20, 2026
The Block’s October 20, 2026 Data & Insights cut says tokenized real-world assets are no longer an Ethereum monoculture: ETH still leads RWA market-cap share at just over 40%, but that is down nearly 30 percentage points from about a year ago, when Ethereum held nearly three-quarters of the stack. Solana, BNB Chain, Stellar, and Avalanche each gained roughly 6 percentage points on average over the last twelve months as issuers chase distribution partners rather than fee races. This is an RWA market-structure chapter — distinct from our September Token Terminal 48.4% Ethereum print and from today’s Mesh×Visa settlement rails story.
The Block’s framing matches the live RWA.xyz network board: Ethereum still holds about $16.7 billion in distributed RWA value, with BNB Chain near $6.1 billion, Solana $4.4 billion, Stellar $3.6 billion, and Avalanche $1.6 billion among the next tier. The newsletter’s harder cut is utilization, not vanity share: tokenized stock market capitalization has surged past $3 billion, yet only about 10% of that stack is actively used in DeFi. Competition, The Block argues, now turns on distribution, compliance rails, and apps that actually borrow or trade the paper — not on which chain posts the largest headline market cap.
For collectors and vaulted-asset desks, the useful read is settlement optionality. Tokenized funds, equity wrappers, and phygital redemption paths increasingly sit beside non-ETH rails (Solana intents, Stellar distribution, Avalanche equity prints) even when marketplace NFT volume stays thin. Do not confuse chain-share diversification with proof that every vaulted card or sneaker twin already settles on those networks — RWA.xyz’s distributed-value cut and marketplace NFT tape remain different books. The same Data & Insights edition also notes OpenSea near ~70% of remaining Ethereum NFT volume as Blur winds down; that marketplace line is backdrop only after our OpenSea Mobile launch file.
The near-term desk watch is whether tokenized-equity DeFi utilization climbs off that ~10% floor as more jurisdictions clarify stock-tokenization rules — and whether Solana/BNB/Stellar/Avalanche share gains keep compounding after the year that shaved Ethereum from ~75% toward ~40%. Pair this print with LI.FI’s Solana intents go-live and Injective’s KRW1 settlement MOU as distribution experiments, not as proof that ETH RWA liquidity has left the building overnight.
RWA watch: Track The Block / RWA.xyz share tables weekly, tokenized-stock DeFi utilization vs the $3B+ market-cap headline, and whether new issuer partnerships name non-ETH settlement rails before the next Data & Insights cut.
Bottom line: The Block’s October 20, 2026 data cut puts Ethereum RWA share just over 40% — down nearly 30 points year-over-year — as Solana, BNB, Stellar, and Avalanche keep carving distribution share.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The cryptocurrency and NFT markets are highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
