XRP Ledger Holds 70% of $3.5B Represented Tokenized Commodity Market

The XRP Ledger is now home to more than 70% of the entire represented tokenized commodity market, emerging as the dominant player in the sector.

Tokenization remains one of the biggest narratives in the crypto scene in recent years, and the XRP Ledger (XRPL), originally built to support the nascent market, seems to be taking up a reasonable share of the sector.

Market data indicates that over 70% of the global represented commodity market on-chain resides within the XRP ecosystem, with Polygon and Arbitrum accounting for the remaining 30%.

This is according to data provided by RWA.xyz, a leading analytics platform for the tokenization market.

Notably, the worth of the global tokenized commodity market stands at $8.08 billion as of press time. This represents a year-to-date increase of $3.84 billion from the $4.24 billion figure recorded at the start of the year.

Interestingly, while only halfway through, this year’s $3.84 billion increase so far has already surpassed the $3.2 billion figure witnessed by the market in 2025. The milestone confirms the increased attention the tokenized commodity market has enjoyed in recent times.

Of the current $8.08 billion market value, distributed commodities, which refer to assets that market participants can move outside the issuing platform, account for $4.53 billion. Meanwhile, represented commodities, which include assets that investors cannot transfer off the issuing platform, total $3.55 billion.

Further data shows that while Ethereum hosts most of the distributed market value, XRP dominates in the represented commodity market.

Specifically, the XRP Ledger accounts for $2.5 billion of the total $3.55 billion worth of represented commodity sector. This gives the ecosystem a large dominance rate of 70.4%. For context, these commodities make up about 57% of the total tokenized real-world assets on the XRP Ledger, which sits at $4.4 billion.

Most of the commodity value residing on the XRPL comes from the JMWH product provided by Justoken. Notably, this product boasts a value of $2.229 billion at press time, representing more than 89% of the total commodities within the XRP ecosystem.

Besides the XRP Ledger, only two mainstream networks host represented tokenized commodities on-chain, specifically Arbitrum and Polygon. While XRP accounts for $2.5 billion of the global market, Polygon has a $661.2 million share, while Arbitrum is home to just $482,700 worth of represented commodities.

XRP may lead the represented commodity sector, but its share reduces drastically when considering the overall commodity market, including represented and distributed assets.

In this case, Ethereum holds the largest share, with $4.2 billion across all commodities. This represents nearly 52% of the total $8.08 billion in total tokenized commodity value. Meanwhile, XRP’s $2.5 billion figure gives it a 31% market share, second only to Ethereum.