According to a report released by Dune on Wednesday, cited by The Defiant, the total size of tokenized real-world assets (RWA) reached $34.5 billion by the end of August. Tokenized Treasury funds accounted for half of this total, but their trading volume for the month was only 0.006% of their supply. In contrast, tokenized stocks, which represent 8% of the market, generated 93% of the spot trading volume.