RWA DeFi Deposits Hit $3.98 Billion, Growing Sixfold in a Year

Data from DefiLlama shows that active deposits in RWA-based DeFi protocols reached $3.98 billion as of August 18, a sixfold increase from $651 million a year ago. While total tokenized RWA issuance is $34.55 billion, on-chain utilization remains low at 11.5%. Private credit accounts for over half of the active volume, while tokenized Treasury bills show minimal on-chain utilization as institutions prioritize yield over lending utility.