The RWA market surged by 40%: tokenized assets reached $51 billion, and the number of holders grew by 60%.
The tokenized real-world assets (RWA) sector continues its steady growth despite the overall correction in the crypto market. Since the beginning of the year, the capitalization of this segment has increased by 40%, reaching $51 billion. This is one of the most sustainable trends of 2025, confirming the growing interest of institutional investors in blockchain solutions for traditional finance.
Particularly notable is the explosive growth in the number of market participants: the number of RWA token holders has increased by 60%, exceeding 917,000. This indicates that tokenization is ceasing to be a niche experiment and is becoming a mass-market tool. The leaders in asset volume remain Figure ($18.9 billion) and Securitize ($4.3 billion), which set the standards for the entire industry.
Market Structure: Lending, Treasury Bonds, and Precious Metals
The RWA market is based on three key segments: private lending accounts for 47% of the total volume, U.S. Treasury bonds for 30%, and precious metals for 9%. This structure reflects the conservative approach of investors seeking stable and regulated assets on the blockchain.
Interestingly, most of the activity is concentrated in just two networks: Provenance (39%) and Ethereum (33%). This underscores the dominance of proven infrastructure solutions. However, the fastest growth is shown by the tokenized equities segment, which increased by 130% over six months, reaching $1.6 billion. Analysts highlight three main approaches to equity tokenization:
- Trading Infrastructure. Brokers, such as Robinhood, buy shares and hold them as collateral for tokens. This enables 24/7 trading but does not grant the holder voting rights—a compromise between liquidity and ownership rights.
- Settlement Layer. Blockchain replaces traditional accounting systems. Projects like Figure and Securitize create regulated stacks where investors receive full ownership rights—this is the gold standard for institutional players.
- Hybrid Model. Coinbase offers an "everything exchange," combining tokens for stocks, derivatives, and crypto assets for users outside the U.S. This is an attempt to create a universal platform for a global audience.
Regulation and Prospects
The further development of the RWA sector directly depends on the SEC's stance. The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities, paving the way for legalization. A key stimulus could be the so-called "innovation exemption," which would allow trading such assets within the U.S. without strict restrictions.
The growth rates are impressive: the monthly transaction volume in the tokenized equities segment reached $5.3 billion in June, compared to just $500 million in September last year. This is a tenfold increase over nine months.
My comment: The RWA market is not just hype but a fundamental shift in how we perceive ownership and liquidity. A 40% growth and a 60% increase in holders signal that traditional finance is beginning to seriously integrate with blockchain. If the SEC continues to ease regulations, we could see a capitalization of $100 billion by the end of the year. Tokenized equities are the "dark horse" that could revolutionize the securities market.