The tokenized real-world assets (RWA) market surged by 40%, reaching the $51 billion mark.
The tokenized real-world assets (RWA) sector continues to demonstrate impressive momentum, despite the overall correction in the cryptocurrency market. Since the beginning of the year, its market capitalization has increased by 40%, reaching $51 billion. This growth is accompanied by an explosive increase in the number of participants: the number of RWA token holders has grown by 60%, exceeding 917,000.
Market Structure and Leaders
The main drivers of this segment are Figure platform with assets of $18.9 billion and Securitize, managing $4.3 billion. Three key areas dominate the RWA structure: private lending accounts for 47% of the market, U.S. Treasury bonds — 30%, and precious metals — 9%. Activity is concentrated in two main blockchain networks: Provenance processes 39% of all transactions, Ethereum — 33%.
The tokenized equities segment deserves special attention, showing the fastest growth — its volume increased by 130% over six months, reaching $1.6 billion. The monthly transaction volume in this segment in June amounted to $5.3 billion, whereas in September last year it barely exceeded $500 million.
Three Tokenization Models
Market analysis identifies three main approaches to tokenization:
- Trading infrastructure. Brokers, such as Robinhood, acquire shares and hold them as collateral for tokens. This enables 24/7 trading but does not grant holders voting rights.
- Settlement layer. Blockchain replaces traditional accounting systems. Projects like Figure and Securitize create regulated stacks where investors receive full ownership rights to assets.
- Hybrid model. Coinbase offers an "exchange for everything," combining tokens for stocks, derivatives, and crypto assets for users outside the U.S.
Regulatory Prospects
The further development of the industry directly depends on the SEC's stance. The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. A key growth catalyst could be the so-called "innovation exemption," which would allow trading such assets within the U.S.
Expert comment: The 40% growth with a 60% increase in the number of holders indicates that a new, broader audience is entering the sector, not just institutional players. The explosive growth of tokenized equities is particularly telling — it signals that traditional markets are beginning to seriously consider blockchain as a settlement infrastructure. If the SEC truly moves toward liberalization, we could see an even more aggressive influx of capital.