The market for tokenized assets has surged by 40%, surpassing $51 billion — what is driving the growth?
The sector of tokenized real-world assets (RWA) is showing impressive momentum: since the beginning of the year, its market capitalization has increased by 40%, reaching $51 billion. This growth occurs against the backdrop of a general correction in the cryptocurrency market, highlighting the sustained interest of institutional and retail investors in the tokenization of traditional financial instruments.
The number of holders of tokenized assets over the same period grew by 60%, exceeding 917,000 unique addresses. The leaders in terms of locked funds remain platforms Figure with $18.9 billion and Securitize with $4.3 billion. These figures confirm that infrastructure projects, rather than speculative tokens, are the main driver of the segment.
Market Structure and Key Trends
An analysis of asset distribution shows that private lending accounts for the dominant share of RWA — 47% of the total volume. In second place are U.S. Treasury bonds (30%), and precious metals round out the top three (9%). This structure indicates that investors are seeking not only liquidity in tokenization but also access to reliable, low-risk instruments.
By network, activity distribution looks as follows: Provenance controls 39% of the market, Ethereum — 33%. However, the fastest-growing segment is tokenized equities: over six months, its volume increased by 130%, reaching $1.6 billion. The monthly transaction volume in this segment in June amounted to $5.3 billion — for comparison, in September last year, this figure was at $500 million. This tenfold increase indicates explosive interest in the tokenization of equity capital.
Three Tokenization Models: From Brokers to Hybrids
Experts highlight three main approaches to tokenizing stocks. The first is infrastructure-based, where brokers like Robinhood acquire shares and hold them as collateral for issued tokens. This enables 24/7 trading but does not grant holders voting rights. The second is a settlement layer, where blockchain replaces traditional accounting systems. Projects Figure and Securitize create regulated stacks that guarantee full ownership rights. The third is a hybrid model promoted by Coinbase: an "exchange of everything," combining tokens for stocks, derivatives, and crypto assets for users outside the U.S.
Regulatory Horizon
The key factor for further growth of the sector remains the SEC's stance. The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. However, as analysts note, the real catalyst will be an "innovation exemption" that allows trading such assets within the U.S. without strict restrictions.
My comment: The market for tokenized assets is on the verge of mass adoption, but its future directly depends on regulatory clarity. The current growth rate — 40% over six months — is impressive, but it could accelerate manifold if the SEC creates clear and friendly rules for this segment. For now, we are only witnessing a warm-up before the real boom.