Evernorth CEO says tokenized assets hit $400 billion in about 18 months

Evernorth's new report finds most tokenized assets still sit idle as ownership records, while the XRP Ledger carves out an institutional niche Tokenization has spent years as a conference-panel promise. According to Evernorth’s CEO, it has now become a roughly $400 billion reality, and it got there in about 18 months. The catch is that most of that value isn’t doing much. Evernorth’s own research suggests the bulk of tokenized assets behave more like digital filing cabinets than working financial instruments. A big number with a smaller number hiding inside it Evernorth Holdings, which trades on Nasdaq under the ticker XRPN, describes itself as a digital asset treasury company focused on XRP. It published its Tokenization Report 2026 on October 27, 2026. The headline figure: tokenized real-world assets across blockchain networks total approximately $400 billion. Real-world assets, or RWAs, are things like funds, bonds and other traditional instruments represented as tokens on a blockchain. Here’s the asterisk. Only around $39 billion of that total supports actual on-chain trading, settlement or use as collateral. That works out to less than a tenth of the pile. The rest mostly func...