Sei Network’s tokenized real-world assets pick up new holders and volume

Sei Network is drawing more holders and more activity in tokenized real-world assets (RWAs), even as the total value on the chain has barely moved. @SeiNetwork now counts 2,510 holders of tokenized RWAs, up about 24% in 30 days, according to rwa.xyz data.

Monthly RWA transfer volume on the $SEI chain nearly tripled to $18.8M, while total value held steady at about $291M. The growth is in the number of users and the pace of movement, not in assets under management.

Ondo's USDY dominates the value held on Sei

@Ondo accounts for about $260M, or 89%, of the total through its US Dollar Yield token (USDY). The product is backed by short-term US Treasuries and bank deposits, and it was the first tokenized Treasury product to launch on the network, according to TheStreet. That launch took place in July 2025.

The concentration is notable. With nearly nine-tenths of the value tied to one issuer, Sei's RWA footprint depends heavily on demand for a single yield-bearing dollar product.

Credit and hedge fund products add smaller slices

@Securitize holds about $15.6M through one Apollo credit fund. CoinDesk reported that Securitize introduced the Apollo Diversified Credit Fund, a tokenized feeder fund of Apollo's private credit vehicle, to Sei ahead of KAIO's expansion to the chain.

KAIO (@KAIO_xyz) holds a similar amount across funds from Hamilton Lane, Brevan Howard, and Laser Digital. CoinDesk described KAIO as backed by Brevan Howard and Nomura's Laser Digital, with tokens available to institutional and accredited investors for onchain subscription, redemption and reporting.

Access restrictions on these products may limit how much activity they generate. Crypto outlet Tron Weekly noted this week that access rules and actual investor demand will shape the economic impact of the network's tokenized fund offerings.

For now, the data points to a growing but narrow RWA base on Sei: more wallets and faster turnover, built mostly on one Treasury-backed token.

Sources

• RWA.xyz: Sei Network tokenized asset analytics
• CoinDesk: KAIO expands tokenized funds to Sei
• TheStreet: Ondo brings tokenized US Treasury to Sei Network