What our headline total includes

Our headline total is deliberately narrow. Here is what it counts, what it leaves out, and why.

What the headline total counts

• Only tokenised real-world asset products whose value we can check ourselves on-chain: token supply read from the chain, valued with the issuer's published NAV or stated price policy.
• Products that are closed or wound down are left out.
• Some funds hold other products that are already on our board. Where an issuer source shows those holdings, we net them out so the same dollars are not counted twice. Where we cannot verify the holdings, we do not net them, and the product page says so.

What we track separately

• Tokenised stocks (tokens that track listed shares) are tracked on their own pages and are not part of the headline total.
• Crypto-strategy funds (funds whose main assets are crypto or crypto trading strategies) are also tracked separately and excluded.

Why our total can differ from other public tallies

Other public tallies may include tokenised stocks, crypto-strategy funds, products they cannot check on-chain, or holdings counted twice through fund-of-funds structures. We leave those out. If we cannot verify a figure ourselves, it does not go into the total. We would rather undercount than guess.

Full methodology · Verification statuses · Product board