General Crypto
March 19, 2026
RWA tokenization is starting to show up in places that were built purely for crypto. On Hyperliquid, gold, oil, and silver have overtaken digital assets in trading volume. This process of bringing real-world assets into blockchain is something that would have sounded unlikely not long ago. Around the same time, Amundi, Europe’s largest asset manager, put $100 million into a fund that runs on-chain.
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Tokenized Real-World Assets Hit $52B as Gold Leads the Onchain Land Grab
On Hyperliquid, the community was seeing a massive shift. Open interest on HIP-3 has climbed past $1.5 billion. For the very first time, Hyperliquid commodities are seeing more activity than crypto pairs. A lot of that comes down to timing. Gold and oil do not stop trading here, even when traditional markets shut for the weekend. This gap is starting to emerge as an advantage.
This, however, is not just a Hyperliquid story. The RWA tokenization market currently sits at around $27 billion in on-chain value, according to recent data. This is a massive jump from where it stood at the start of 2025. Most of that growth is coming from institutions actually investing capital to work on-chain and not just testing it.
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Amundi Launches $100M Fund
Amidst this, Amundi’s move makes the shift harder to ignore. Amundi manages about $2.3 trillion, and rolled out a $100 million tokenized fund on Ethereum (ETH) and Stellar (XLM) this week. The product is called the Spiko Amundi Overnight Fund or SAFO. It is built for things like treasury management, with faster settlement and real-time visibility. In addition, it will use Chainlink (LINK) to publish its net asset value directly on-chain. Jean-Jacques Barbéris, Head of Institutional and Corporate Clients, and ESG at Amundi, said,
“SAFO provides professional investors with a fast and transparent access to cash management solutions. This initiative is part of our ambition to contribute to the rise of tokenized solutions.”
At the same time, the World Gold Council is working with BCG on a framework for tokenized gold in 2026. The platform aims to clean up a market that is still fragmented despite already crossing a few billion dollars. The goal is straightforward, which is to make these products easier to use, trust, and move across systems. Matthias Tauber, Managing Director and Senior Partner, BCG, said,
“The question is no longer whether gold will be digital; it’s how it can participate in modern financial systems without compromising physical integrity. Together with the World Gold Council, we explored what it takes to build trusted rails for digital gold, at market scale.”
Gold has been taking center stage at the moment. China has been contributing quite a bit as it added another tonne of gold in February. This marked 16 consecutive months of accumulation.
There is also a push to make gold do more than just sit there. Bybit recently introduced a product tied to Tether Gold that allows users to earn yield. This is while holding exposure to the asset. It is a small change on paper, but it shifts how people view gold on-chain.
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