In a recent video, a crypto-focused wealth commentator argued that a quiet but consequential shift is underway in tokenized real-world assets (RWAs): capital is leaving Ethereum and landing on the XRP Ledger, with potentially large implications for how institutional finance uses public blockchains.
Dr. Kamilah Stevenson said that over the past 30 days, the XRP Ledger has taken in roughly $1.5 billion in net new RWA inflows, while Ethereum saw about $1.2 billion in RWAs leave. Framed this way, the story is not about token prices but where “the actual tokenized financial paper of the real economy” chooses to settle.
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Flow Data Flips: XRP Ledger Moves Into RWA Leadership
According to Kamilah Stevenson, the total tokenized RWA market across blockchains stands at around $32 billion, with tokenized U.S. Treasuries representing about 45% of that, or roughly $14 billion in sovereign debt now settling on public networks.
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The largest single tokenized Treasury product cited is BlackRock’s BUIDL fund at about $2.4 billion in assets, alongside offerings from Franklin Templeton, Ondo Finance, Guggenheim, OpenEden and ARK’s ARK21Shares franchise. For years, the host noted, Ethereum was the “default destination” for almost all of this activity.
What has changed, she said, is net flow direction: XRP Ledger is now described as the number two chain globally by total tokenized RWA holdings and the number one by recent net inflows.
She framed this as a second-stage infrastructure shift, where capital migrates from the first workable rail (Ethereum L1) to the rail that better fits institutional requirements around fast, deterministic settlement, predictable costs and regulatory auditability.
Institutions Test XRP Rails As Infrastructure Builds Out
The video links the flow reversal to a flurry of institutional experiments and integrations. In the same period, the host said, JPMorgan’s Onyx platform, Mastercard, Ondo Finance and Ripple executed a live cross-border tokenized U.S. Treasury redemption on the XRP Ledger, reportedly settling in about five seconds.
Stevenson also cited Standard Chartered and Neuberger Berman in connection with a $200 million credit facility cleared for Ripple’s prime brokerage, the go-live of Ripple’s National Trust Bank charter bringing “ARUSD” inside the U.S. banking perimeter, and retail access expansions via Charles Schwab and SoFi, which she claimed now allow crypto or XRP access for tens of millions of accounts.
The analyst argued that regulated tokenized assets are beginning to separate from speculative DeFi activity, choosing XRP Ledger for compliance-focused settlement even as she continues to hold and stake Ethereum for other use cases.
For investors, the core claim is that if this migration persists, the “rail asset” XRP could see structural revaluation – but only those holding it in tax-advantaged or otherwise protective structures, she warned, will keep most of any upside.
The broader takeaway is straightforward: early RWA capital is starting to “vote” on chain preference.
If the first tens of billions in tokenized assets consolidate on XRP Ledger, the commentator suggests, the next wave of institutional-sized tokenization may simply follow the same rails.
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Primarily tokenized U.S. Treasuries, money market funds and corporate credit, according to the video.
Kamilah Stevenson does not claim that; instead, she highlights net outflows in recent weeks and a relative shift toward XRP Ledger for regulated products.
The video frames it as structural potential, not a guaranteed price forecast, and stresses tax and account structure as key to realizing gains.
The issuers cited are traditional asset managers and broker-dealers operating under standard fiduciary and regulatory obligations.
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