Tokenized Asset Deposits Hit $7.4B as DeFi Shrinks
Tokenized Asset Deposits Tripled to $7.4B as DeFi Shrank: CoinShares
Deposits into tokenized assets rose sharply to $7.4 billion, roughly tripling over the period observed, even as activity in decentralized finance (DeFi) declined, according to CoinShares.
The figures highlight a split in onchain capital flows: while broader DeFi participation and usage contracted, tokenized asset products attracted more deposits. Tokenized assets typically refer to real-world or traditional financial instruments represented on a blockchain, a structure designed to bring familiar assets into onchain markets.
The divergence matters because it suggests demand for blockchain-based exposure to traditional assets can grow independently of DeFi’s overall expansion. In practical terms, it indicates that some users and institutions may be allocating capital to tokenized instruments even when DeFi lending, trading, or other protocol activity is slowing.
CoinShares’ data also underscores a broader trend within crypto markets: different onchain sectors can move in opposite directions based on changing preferences for risk, liquidity, or product structure. Tokenized assets are often positioned as a bridge between traditional finance and blockchain settlement, while DeFi remains more directly tied to crypto-native services and protocol-driven incentives.
CoinShares did not provide additional details in the shared information about which tokenized asset categories drove the increase or what specific measures were used to define DeFi’s contraction, but the headline numbers point to a clear shift in where deposits are concentrating.
