XRPL Holds 70.4% of Represented Tokenized Commodities, RWA.xyz Data Shows

Market expands in 2026

RWA.xyz data cited in the report puts the total tokenized commodity market at $8.08 billion as of press time. That marks an increase of $3.84 billion from the $4.24 billion recorded at the start of the year.

The source article says that gain has already exceeded the $3.2 billion increase seen across 2025, even though 2026 is only halfway through. It presents that as a sign of growing attention on tokenized commodities within the broader digital asset market.

Represented vs. distributed assets

The $8.08 billion market is split between two categories. Distributed commodities, described as assets that can be moved outside the issuing platform, account for $4.53 billion. Represented commodities, which investors cannot transfer off the issuing platform, total $3.55 billion.

XRPL’s lead comes specifically from the represented side of the market rather than the full tokenized commodity sector. Within that $3.55 billion segment, Polygon holds $661.2 million and Arbitrum hosts $482,700, far below XRPL’s reported total.

XRPL’s commodity footprint

The report says represented commodities make up about 57% of the XRP Ledger’s total tokenized real-world asset value, which stands at $4.4 billion. It also attributes most of XRPL’s commodity value to the JMWH product from Justoken.

At press time, JMWH was valued at $2.229 billion, meaning it represented more than 89% of all commodities on XRPL, based on the figures in the source material. That concentration helps explain why the network’s represented commodity share is so large relative to other chains tracked in this segment.

Broader market ranking

XRPL’s position changes when the distributed and represented categories are combined. In the overall tokenized commodity market, Ethereum is the largest network with $4.2 billion, or nearly 52% of the $8.08 billion total, according to the cited data.

Using that broader measure, XRPL’s $2.5 billion gives it a 31% share of the total market, placing it second behind Ethereum rather than first. The distinction highlights that XRPL currently dominates a narrower part of the commodity tokenization market, while Ethereum leads when all tokenized commodity formats are included.

The source frames tokenization as a major crypto market theme, and the RWA.xyz figures suggest commodity tokenization has continued to grow quickly in 2026. Within that expansion, XRPL appears to have secured a commanding position in represented commodities, even as leadership of the overall market remains more divided across networks.