Tokenized asset market and crypto buybacks see significant growth

The market for tokenized real-world assets reached $34.5 billion in August 2026, representing a 140% increase year-over-year. According to data from Dune, cash equivalents constitute the largest segment at nearly $18 billion, though many of these assets remain inactive. In contrast, equities account for only 8% of the market but drive 93% of on-chain trading activity, with a notable preference for individual stocks over exchange-traded funds.

Simultaneously, the cryptocurrency industry is seeing a shift toward revenue-backed token economics. Crypto token buybacks reached a record $638 million through late August 2026, up from $545 million in the previous year. This trend is largely driven by protocols like Hyperliquid and Pump.fun, which use platform revenue to purchase native tokens, moving away from purely speculative models toward value accrual based on operational success.

While the tokenized equity market remains a small fraction of the $151.9 trillion global listed-equity market, regulatory shifts are occurring. The U.S. Securities and Exchange Commission granted a temporary exemption in September 2026 to expand tokenized trading capabilities.