The tokenized assets market surged by 40%: volume reached $51 billion, and the number of holders exceeded 917,000.
The sector of tokenized real-world assets (RWA) is showing impressive 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 direct evidence that institutional and retail investors are increasingly seeking bridges between traditional finance and blockchain.
The key driver is the explosive growth in the number of participants. The number of holders of tokenized assets has jumped by 60%, exceeding 917,000 addresses. The leaders in terms of locked-in funds remain Figure ($18.9 billion) and Securitize ($4.3 billion), which are essentially forming the infrastructural backbone of the market.
Structure and Dynamics of the RWA Market
An analysis of asset distribution shows a clear hierarchy: private lending accounts for 47% of the market, U.S. Treasury bonds for 30%, and precious metals for 9%. Meanwhile, most activity is concentrated in two networks: Provenance (39%) and Ethereum (33%).
The tokenized equity segment deserves special attention. Over the past six months, it has grown by 130%, reaching $1.6 billion. The monthly transaction volume in this sector in June was $5.3 billion — for comparison, in September last year, this figure was at $500 million. This is a tenfold increase, indicating the formation of sustainable demand.
Three Tokenization Models: From Brokers to Hybrids
Three main approaches to tokenization have emerged in the market. The first is infrastructure for trading: brokers like Robinhood buy shares and hold them as collateral for tokens, allowing 24/7 trading but without transferring voting rights. The second is a settlement layer: Figure and Securitize replace traditional accounting systems, providing investors with full ownership rights. The third is Coinbase's hybrid model, which offers an "exchange for everything" for users outside the U.S., combining tokens for stocks, derivatives, and crypto assets.
Regulatory Factor and Prospects
The further development of the sector directly depends on the SEC's stance. The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. The key catalyst, in my assessment, will be the so-called "innovation exemption" — permission to trade such assets within the U.S. without fully applying all norms of traditional securities law.
My comment: A 130% growth in the tokenized equity segment over six months is not just a trend but a tectonic shift. If the SEC indeed makes concessions, we could see the volume of this market double within the next 12 months. However, without clear regulation, the risk of fragmentation and the emergence of "gray" jurisdictions remains.