Tokenized RWAs surpass 900,000 holders as yield-driven demand meets private-credit strain

Tokenized real-world assets have grown to more than 900,000 holders, led by Solana with 277K users and Plume Network with 250K. Yield has been a major draw, particularly through private credit products. But dividend coverage for listed private-credit lenders has weakened since 2023, slipping from above 1.15x in April 2023 to just below 1.0x by early 2026.