Solana Enters 2026 With Last-Minute Boost in RWA Momentum

Solana's Institutional Momentum in 2026

Solana posted a record increase in tokenized real-world assets (RWAs) in December 2025, with the total value rising to $873.3 million. This surge follows growing institutional interest in tokenizing traditional assets like U.S. Treasuries and stocks. The number of token holders also rose by 18.4%, reaching 126,236.

The growth is driven by tokenized U.S. Treasury products from BlackRock and Ondo, with market caps of $255.4 million and $175.8 million, respectively. New tokenized stocks, including Tesla and Nvidia, are gaining traction, with $48.3 million and $17.6 million in value.

Ethereum still leads the tokenization market with $12.3 billion in RWAs, followed by BNB Chain at $2 billion. Solana is on track to join these leaders, closing the gap with strong growth in December 2025.

Why Did This Happen?

Institutional adoption has played a key role in Solana's RWA expansion. The U.S. Securities and Exchange Commission approved six Solana-based exchange-traded funds in late October 2025, which have attracted $765 million in inflows. These funds include major asset managers, signaling growing legitimacy for Solana in institutional finance.

Another major development came from Western Union, which chose Solana to build a stablecoin-based remittance platform for its 150 million customers. The platform is expected to launch in the first half of 2026.

How Did Markets React?

Despite this momentum, Solana's price started 2026 at around $125, down from its January 2025 high of $190. The token is also 57% below its peak of $293.3 in early 2025. However, Solana outperformed many competitors in onchain revenue. Over the past 30 days, it generated $110 million in app revenue, significantly ahead of Ethereum and Hyperliquid. This performance shows Solana's ability to maintain strong income even when memecoin activity declines.

What Are Analysts Watching Next?

Several analysts and institutions are closely watching the potential passage of the U.S. Clarity Act in 2026. Bitwise has predicted that Solana could set a new all-time high if the act passes, as it would provide a regulatory framework for tokenization.

Galaxy Research has also projected that Solana's Internet Capital Markets could grow to $2 billion in 2026 from $750 million today. The firm expects more than 50 new spot altcoin ETFs to launch in the U.S. this year.

Ondo Finance is another major player in the RWA space. The platform recorded $2 billion in trading volume in 2025 and plans to expand to Solana in 2026. It has also secured SEC approval and expanded into the European market. The growing participation of major institutions like BlackRock, JPMorgan, and Fidelity highlights the increasing importance of tokenization in traditional finance. These partnerships are expected to bring more capital and legitimacy to the sector in 2026.

Regulatory developments will be critical. The SEC's recent approval of tokenized asset platforms and the potential passage of the Clarity Act could determine how quickly institutional capital flows into the space.

Investors are also keeping a close eye on Ethereum's performance. Analysts like Tom Lee have predicted a $7,000–$9,000 price target for Ether in early 2026 and a long-term goal of $20,000. Stablecoin issuance on Ethereum has also grown significantly, with over $170 billion in stablecoins now on the network. This growth reinforces Ethereum's role as a settlement layer for onchain finance.

In summary, 2026 is shaping up to be a pivotal year for tokenization and institutional adoption in the crypto space. Solana's strong RWA growth and Ethereum's continued dominance set the stage for major developments in the coming months.