Credit-backed tokenized funds have emerged as the second-largest tokenized fund vertical 👇Sector definition. This chart shows the circulating asset market cap of tokenized funds backed by credit strategies, including private and asset-backed credit products issued onchain. To view the data on our ‘Tokenized assets’ dashboard: market sector (tokenized funds), reference asset (credit fund).Growth trajectory. The category expanded from near-zero market cap in mid-2024 to approximately $4 billion by May 2026, w ...