BNB Chain has overtaken Ethereum and Solana in the number of wallets holding tokenized real world assets, with 1.88 million RWA holders as of September 28. While Ethereum still dominates by RWA value, BNB Chain’s lead in user count points to a different measure of tokenization adoption.
BNB Chain has surpassed Ethereum and Solana in terms of wallets that have tokenized real-world assets, as per data shared by the RWA Foundation on September 28, 2026.
The network recorded 1,883,008 RWA holders, ahead of Robinhood Chain at 1,443,558, Solana at 697,506, and Ethereum at 274,688.
The ranking is a new perspective on the RWA market. Ethereum remains the leader in terms of the value of assets stored in tokens, while BNB Chain continues to gain a significant number of wallets that store those assets.
The difference is crucial because the value of assets and users' participation measure different aspects of adoption.
The gap is significant. BNB Chain has about 2.7 times as many RWA holders as Solana and nearly seven times as many as Ethereum, based on the latest figures.
That does not make BNB Chain the largest RWA market by value. BlockInsider reported on September 16 that Ethereum controlled 44.26% of RWA market share by value, compared with 14.51% for BNB Chain and 11.02% for Solana.
BNB Chain had nevertheless added $3.6 billion in RWA value since the start of the year.
The divergence creates an unusual picture. Ethereum remains the capital-heavy side of the market, while BNB Chain is building a much broader holder base.
Tokenized stocks appear to be a major contributor. RWA data cited by BlockInsider previously showed the category adding 570,000 holders in a single week, taking the global total to 3.62 million.
More recent figures shared by RWA Foundation put BNB Chain at the front of that broader holder expansion.
BNB Chain has also been making transactions easier for users. Binance Wallet announced September 25 that users can pay gas fees in USDT rather than first acquiring a network's native token.
The feature currently covers BNB Smart Chain, Ethereum, Solana and TRON. That removes one practical hurdle for users moving stablecoins across networks. BNB Chain has separately extended its zero-fee campaign for USDC, USD1 and U through September 30.
The promotion covers withdrawals, transfers and bridging, while BNB Chain said more than $4.5 million in gas fees had already been covered for users.
Those changes do not prove that fee reductions caused the RWA holder lead. They do, however, show where BNB Chain is placing emphasis: making on-chain transactions cheaper and reducing the number of steps required to use them.
The RWA push is also taking place alongside renewed community-driven activity on BNB Chain.
The ecosystem is currently running its $4 million BNB Stonks Season, which uses weekly rounds and HODLer airdrops around stock-paired meme assets.
The campaign's live dashboard tracks factors including holder growth, trading volume, and market-cap changes.
That matters because the BNB Chain story is no longer limited to institutional tokenization. The same network is combining tokenized equities with retail trading campaigns, meme culture, and incentives designed to keep users engaged.
The approach is visible in the chain's broader ecosystem as well. BNB Chain's DappBay currently lists RWA applications alongside DeFi, AI, gaming and other categories, giving tokenization a place inside a wider consumer ecosystem rather than treating it as a standalone institutional product.
That shift changes how the latest ranking should be read. BNB Chain is not displacing Ethereum across every RWA metric. Ethereum remains ahead in overall RWA value, while Solana has also built substantial activity around tokenized assets.
But the holder figures show that the distribution of tokenized assets is changing. Nearly 1.9 million wallets now count toward BNB Chain's RWA holder total, compared with fewer than 700,000 on Solana and fewer than 275,000 on Ethereum.
That is the more unconventional part of the latest data. The RWA race is no longer just about which blockchain carries the most dollars. It is increasingly about which networks can turn tokenized assets into something a large number of users actually hold.
Recent BlockInsider coverage tracked BNB Chain's rapid RWA growth, while its August report on Grayscale's Smart Contract Fund showed BNB receiving a 30.6% allocation, narrowly ahead of Ethereum at 29.47% and Solana at 29.15%.
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