Sky Beats Major Issuers in Tokenized Funds Market Cap

Sky, a decentralized finance (DeFi) platform, holds the largest share of the tokenized funds market, according to data from Token Terminal on August 21, 2026. The overall tokenized funds market capitalization stands at $34.4 billion, reflecting growth of 7,472.8 percent. 

According to the token terminal data, Sky’s tokenized funds total $4.6 billion. Securitize follows with $2.9 billion, Circle with $2.5 billion, Franklin Templeton with $2.5 billion, and Ondo Finance with $2.3 billion. Tradable and Centrifuge each account for $1.6 billion, while Maple Finance stands at $1.3 billion. Ethena and Spiko each register $1.1 billion. The remaining issuers categorized as Other total $9.7 billion.

Stablecoin, tokenized commodities and tokenized stocks market

The broader stablecoin market capitalization remains $296.3 billion, up 161.5 percent. Tether leads with $183.0 billion. Circle holds $72.9 billion. Sky ranks third among listed issuers with $9.5 billion. Paxos follows at $6.3 billion, Ethena at $4.5 billion, and World Liberty Financial at $4.0 billion. Ripple accounts for $1.9 billion. Falcon Finance, Tron USDD, and United Stables each stand at $1.3 billion. Other issuers total $10.3 billion.

The tokenized commodities market capitalization is $7.6 billion, representing growth of 2,165.1 percent. Tether leads this category with $2.9 billion, followed by Justoken at $2.2 billion and Paxos at $2.0 billion. Kinesis holds $241.2 million, while smaller positions include Pleasing Gold, Matrixdock, Goldfish Gold, Ondo Finance, StreamEx, and xStocks. Other issuers account for $19.5 million. 

Tokenized stocks have a market capitalization of $2.8 billion, with growth of 108,805.9 percent. Ondo Finance leads with $961.9 million. xStocks follows at $621.7 million, Binance-related issuance at $586.3 million, and Securitize at $165.6 million. Reality holds $153.4 million, Republic $72.3 million, Robinhood $60.2 million, Superstate $36.9 million, NYALA Digital $26.9 million, and Backpack $20.6 million. Other issuers total $74.9 million.

Sky token metrics

At the time of this writing (on August 21 at 18:15 UTC), Sky’s token price is recorded at $0.0664. The fully diluted market capitalization is $1.5 billion, down 1.5 percent. Circulating market capitalization is also $1.5 billion, down 1.2 percent. Thirty-day token trading volume stands at $249.5 million, a decline of 27.4 percent. The number of token holders is 14.8 thousand, up 2.3 percent. Thirty-day revenue is $41.5 million, down 4.5 percent.

Sky’s total tokenized assets reach $14.1 billion. Of this amount, stablecoins account for $9.5 billion, or 67.5 percent of the total. Tokenized funds make up the remaining $4.6 billion, equivalent to 32.5 percent. The combined figure shows growth of 28,247,926,221.8 percent over the tracked period.

The charts indicate continued expansion across tokenized funds, stablecoins, commodities, and stocks, with varying growth rates by category and issuer. All figures reflect the most recent values available from the Token Terminal platform.

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