The tokenized asset market has surged by 40%: analysis of the current state and prospects
The market for tokenized real-world assets (RWA) is showing impressive momentum: since the beginning of the year, its capitalization has increased by 40%, reaching $51 billion. This growth is occurring against the backdrop of a general correction in the cryptocurrency market, indicating the formation of a sustainable trend toward institutional tokenization.
Key Metrics and Structure
The number of RWA token holders has surged by 60%, exceeding 917,000 unique addresses. The leaders in asset volume remain platforms Figure ($18.9 billion) and Securitize ($4.3 billion), which set standards in this niche. The market is dominated by private credit (47%), U.S. Treasury bonds (30%), and precious metals (9%). Notably, most activity is concentrated on the Provenance (39%) and Ethereum (33%) networks, highlighting the dominance of these blockchains in RWA infrastructure.
Tokenized Equity Segment: Explosive Growth
Particular attention should be paid to the tokenized equity segment, which showed the fastest growth—130% over the past six months, increasing to $1.6 billion. The monthly transaction volume in this segment reached $5.3 billion in June, compared to just $500 million in September last year. This indicates that institutional investors are actively testing new liquidity models.
Three Tokenization Models
Analysts identify three main approaches to equity tokenization. The first is trading infrastructure, where brokers (e.g., Robinhood) purchase shares and hold them as collateral for tokens, enabling 24/7 trading but without transferring voting rights. The second is a settlement layer, where blockchain replaces traditional accounting systems, and projects like Figure and Securitize create regulated stacks with full ownership rights. The third is Coinbase's hybrid model, offering an "exchange for everything" for users outside the U.S., combining tokens for stocks, derivatives, and crypto assets.
Regulatory Context
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, paving the way for legalization. A key catalyst could be an "innovation exemption" that would allow trading such assets within the U.S. Without this step, the market risks remaining fragmented.
Expert Commentary: The RWA market is at a turning point. A 40% growth amid a crypto correction is not a coincidence but a signal of capital flowing from speculative assets into real economic instruments. However, without clear regulation from the SEC, this segment risks facing liquidity constraints. Investors should closely monitor regulatory actions, as they will determine whether tokenization becomes a new standard or remains a niche experiment.