The tokenized assets market surged by 40%: market capitalization reached $51 billion, and the number of holders grew by 60%.
The sector of tokenized real-world assets (RWA) is demonstrating steady 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 confirms the growing interest of institutional and retail investors in the blockchain representation of traditional financial instruments.
A key indicator—the number of holders of tokenized assets—has surged by 60%, exceeding 917,000 unique addresses. The leaders in assets under management remain the Figure platform with $18.9 billion and Securitize with $4.3 billion. These projects are essentially forming the infrastructure backbone for a new class of digital assets.
Market Structure and Dominant Segments
An analysis of capital distribution shows that the RWA market is based on three key areas: private credit (47%), tokenized U.S. Treasury bonds (30%), and precious metals (9%). At the same time, the highest activity is concentrated in two blockchain networks: Provenance (39% of the total volume) and Ethereum (33%).
Particular attention should be paid to the segment of tokenized stocks, which has shown explosive growth of 130% over the past six months, increasing to $1.6 billion. The monthly transaction volume in this sector reached $5.3 billion in June—compared to just $500 million in September last year. This indicates an avalanche-like adoption of the technology.
Three Tokenization Models: From Brokers to the "Exchange of Everything"
The industry has developed three main approaches to issuing and trading tokenized stocks. The first is infrastructure-based, where brokers like Robinhood buy stocks and issue tokens backed by them, enabling 24/7 trading but without transferring voting rights to the holder. The second is the settlement layer, where blockchain replaces traditional accounting systems, and projects like Figure and Securitize create regulated stacks with full ownership rights for investors. The third is a hybrid model proposed by Coinbase, which positions itself as the "exchange of everything," combining tokens for stocks, derivatives, and crypto assets for users outside the U.S.
Regulatory Landscape and Prospects
The further development of the RWA sector directly depends on the SEC's stance. The regulator has already approved pilot projects by NYSE and Nasdaq for trading tokenized securities. A key catalyst could be an "innovation exemption" that would allow full-fledged trading of such assets within the U.S. If this happens, we will see an even more aggressive inflow of capital into the segment.
My expert commentary: A 40% growth amid a general correction is a strong signal. Investors are clearly voting for the liquidity and accessibility that tokenization provides. However, the key risk remains regulatory: if the SEC takes a hardline stance, this entire bubble could collapse faster than it formed. Keep an eye on legal initiatives—they will be the main driver or brake for RWA over the next 12 months.