The market for tokenized assets surged by 40%: new records and structural shifts
Since the beginning of the year, the real-world assets (RWA) market has shown impressive growth of 40%, reaching $51 billion. This comes amid a broader correction in the cryptocurrency market, highlighting the resilience and growing interest in tokenizing traditional assets.
The number of holders of tokenized assets has increased by 60%, exceeding 917,000 addresses. The leaders in terms of locked value remain Figure ($18.9 billion) and Securitize ($4.3 billion), which continue to dominate this segment.
Market Structure and Dynamics
The majority of RWA is concentrated in three key sectors: private credit (47%), U.S. Treasury bonds (30%), and precious metals (9%). The most active networks are Provenance (39%) and Ethereum (33%), indicating liquidity concentration in these ecosystems.
Particularly noteworthy is the tokenized equities segment, which has seen explosive growth of 130% over the past six months, reaching $1.6 billion. The monthly transaction volume in this segment in June was $5.3 billion, compared to barely $500 million in September last year. This is a massive leap, signaling the maturity of the technology.
Three Tokenization Models
Analysts highlight three main approaches to equity tokenization:
- Trading Infrastructure — brokers like Robinhood purchase shares and hold them as collateral for tokens. This enables 24/7 trading but deprives holders of voting rights.
- Settlement Layer — blockchain replaces traditional accounting systems. Projects like Figure and Securitize create regulated stacks where investors receive full ownership rights.
- Hybrid Model — Coinbase offers an "exchange for everything," combining tokens for stocks, derivatives, and crypto assets for users outside the U.S.
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. A key growth catalyst could be the so-called "innovation exemption," which would allow trading such assets within the U.S.
My expert opinion: The RWA market is at a turning point. A 40% growth amid a correction is a strong signal, but the main driver is tokenized equities, where we see 130% growth over six months. If the SEC eases regulations, we could see an explosive influx of institutional capital that will transform traditional capital markets.