Solana Dominates RWA Flows, Pulling In $348 Million in Net Flows

According to the RWA Foundation X account, Solana has led real-world asset (RWA) flows, attracting $348 million in net inflows over the past 30 days.

"Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain," the RWA Foundation X account wrote.

.@Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain. Data via @rwa_xyz. pic.twitter.com/KAfUZ0UVos — RWA Foundation (@RWAFoundation_) September 5, 2026

.@Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain. Data via @rwa_xyz. pic.twitter.com/KAfUZ0UVos

Data on the rwa.xyz platform shows Solana leading the 30-day change among major networks on the RWA League table (distributed), which tracks RWA tokens using a blockchain as a distribution layer—enabling onchain investors to subscribe to, hold, and manage assets directly through their own wallets or custodians. Solana recorded a 30-day increase of 11.13%, while Ethereum and Stellar rose by 0.77% and 5.22%, respectively. XRP Ledger and Avalanche declined by 5.51% and 14.06%, respectively.

As previously reported, Solana's total RWA value has crossed $4 billion and currently stands at $4.23 billion. The number of RWA holders grew by 17.63% over the last 30 days to 398,644.

One of the defining industry trends of the past year has been the growth of RWAs, and Solana has sustained its momentum in this space. Tokenization of traditional assets such as Treasuries has drawn major traditional financial institutions into the blockchain sector, and Solana has become a notable beneficiary of that institutional interest. The Solana blockchain hosts tokenized Treasury products, including Circle's USYC tokenized money market fund, BlackRock's BUIDL, VanEck's VBILL, and Franklin Templeton's BENJI.

Ondo Finance operates two Treasury-linked products on Solana: USDY, a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG, which provides exposure to short-term U.S. government bonds and is backed significantly by BlackRock's BUIDL fund.

Solana Eyes Its Most Ambitious Upgrade

Solana is preparing for what could be its most ambitious core upgrade to date—one that would replace its current technology stack with a redesigned consensus protocol built for near-instant finality and responsiveness.

Dubbed Alpenglow, the upgrade proposes replacing Proof of History—Solana's well-known, unique "pre-recorded clock" system—and Tower BFT, its existing voting mechanism for reaching consensus.

In late August, Solana held its first network-wide governance vote—a proposal to accelerate cuts to new SOL issuance—which passed the required two-thirds majority in the final minutes before the deadline. The vote marked a new step in Solana's onchain governance, which the network had largely handled through offchain coordination among validators and core developers before the introduction of formal voting mechanisms.