The volume of tokenized real-world assets surged by 40%: new records and structural shifts
The market for tokenized real-world assets (RWA) continues its steady growth, despite the overall correction in cryptocurrency markets. Since the beginning of the year, its market capitalization has increased by 40%, reaching $51 billion. This trend confirms the sector's maturity and the growing interest of institutional investors in blockchain instruments.
Particularly notable is the explosive growth in the number of holders of such tokens — over the same period, their number increased by 60%, exceeding 917,000. Leading positions in terms of asset volume are held by platforms Figure ($18.9 billion) and Securitize ($4.3 billion), indicating a concentration of capital around proven infrastructure solutions.
Market Structure: Dominance of Lending and Gold
The bulk of RWA still comes from private lending (47%), U.S. Treasury bonds (30%), and precious metals (9%). Key activity is concentrated in the Provenance (39%) and Ethereum (33%) networks. However, the most dynamic segment is tokenized equities, which have shown growth of 130% over the past six months, increasing volume to $1.6 billion.
Analysts highlight three key tokenization models shaping the market's future:
- Infrastructure for 24/7 Trading. Brokers like Robinhood purchase shares and issue tokens against them, enabling round-the-clock trading but without transferring voting rights to holders.
- Settlement Blockchain Layer. Projects such as Figure and Securitize replace traditional accounting systems, creating regulated stacks where investors receive full ownership rights.
- Hybrid Model. Coinbase promotes the concept of a "universal exchange," combining tokens for equities, derivatives, and crypto assets for users outside the U.S.
Regulatory Horizon and Prospects
The further development of the industry directly depends on the position of the U.S. Securities and Exchange Commission (SEC). The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. According to experts, a key catalyst will be the introduction of an "innovation exemption" that legalizes the trading of such assets within the U.S.
Indicative is the growth in transaction volume in the tokenized equities segment: in June, it reached $5.3 billion, compared to just $500 million in September last year. This tenfold increase over nine months signals explosive demand.
Expert Commentary: The RWA market is undergoing a qualitative leap — from experimental projects to large-scale adoption. The 60% growth in the number of holders and the 130% surge in the equities segment are not just numbers but a signal that tokenization is becoming mainstream. However, the key question remains open: can the SEC create an adequate legal framework without stifling innovation? If the regulator compromises, we will see a new wave of growth that could redistribute capital between traditional finance and blockchain.