Solana RWA TVL revised as Treasury tokens, BUIDL lead

What to Know:

• Verified data shows Solana RWA below $1.66B, around $1.12B January 2026.
• Inflated claims stem from multi-chain totals, non-RWA collateral, AUM confusion.

The claim that Solana’s real‑world asset (RWA) value has “officially” exceeded $1.66 billion is not supported by the most recent verifiable figures. Based on data from SignalPlus, Solana’s RWA total value was around $1.12 billion in January 2026, driven primarily by tokenized fixed‑income products. As reported by Cointelegraph, the network’s RWA value was about $873.3 million in December 2025.

For clarity, RWA here refers to tokenized U.S. Treasuries and institutional yield products natively issued or settled on Solana, not derivatives, synthetic exposures, or mirrored assets bridged from other chains. Sound methodology excludes forward projections, marketing totals that aggregate multiple chains, and any double‑count of wrapped or custodial duplicates. Using this scope, none of the named sources corroborate a current $1.66 billion figure.

Discrepancies can arise when analysts include non‑RWA DeFi collateral, aggregate multi‑chain supplies, or add anticipated allocations not yet on chain. Others may conflate protocol AUM with chain‑specific TVL, which are distinct measures. These factors likely explain the $1.66 billion headline without on‑chain verification.

Why Solana RWA claims matter: tokenized U.S. Treasuries exposure

RWA growth on Solana signals expanding institutional use of on‑chain settlement and treasury‑like yield instruments. BlackRock’s BUIDL and Ondo Finance’s dollar‑denominated yield products are frequently cited as contributors to this activity, alongside ecosystem support from the Solana Foundation. The accuracy of TVL claims affects risk assessment, audit trails, and regulatory reporting across counterparties.

Industry commentary has framed Solana’s role in tokenization and institutional settlement, underscoring momentum but not validating a $1.66 billion RWA total. “Solana is the new Wall Street,” said Matt Hougan, CIO at Bitwise, describing institutional interest in stablecoins and tokenized assets on high‑throughput rails.

For market, custody, and compliance teams, the distinction between native tokenized Treasuries and synthetic or bridged representations is material. It drives how yield, liquidity, and chain‑specific operational risks are measured, and it informs disclosure language in financial statements.

Where to verify: Solana RWA TVL, Ondo, BlackRock BUIDL

Verification should start with recent chain‑specific RWA tallies reported by reputable publications, then cross‑check against institutional materials from the Solana Foundation, Ondo Finance, and product documentation for BlackRock’s BUIDL. Confirm that figures count only Solana‑native tokenized Treasuries and institutional yield instruments, excluding mirrored assets and cross‑chain aggregates. Ensure timestamps are explicit and that reported totals reconcile with on‑chain circulating supply or contract‑level disclosures.

Analysts should also match product AUM disclosures to Solana addresses where applicable and avoid combining multi‑chain totals into a Solana‑only metric. When totals diverge, preference should be given to chain‑verifiable data and issuer statements with dated methodology notes. This approach minimizes double‑counting and aligns RWA TVL with defensible, regulator‑ready reporting.