Tokenized U.S. Treasury funds hold $14.7 billion, about 37% of the $39.3 billion distributed real-world asset market. According to NS3.AI, tokenized asset demand is most evident in investment holding and price trading, while lending adoption remains uneven. RWA perpetual trading volume reached $2.57 trillion in the third quarter of 2026, more than double the $1.27 trillion recorded in the second quarter. About 42% of stock-token supply is eligible as decentralized finance collateral, but approximately 2.6% is posted in lending markets. Legal claims, investor eligibility, redemption terms and liquidation liquidity shape how investors can use tokenized products.