Tokenized RWAs Hit $30B Market Cap, Growing 4x in Two Years
Tokenized RWAs Hit $30B Market Cap, Growing 4x in Two Years
📈 RWAs hit $30B...
Tokenized real-world assets (RWAs) have reached a $30 billion market, representing nearly 4x growth over the past two years according to a16z's State of Crypto 2025 report.
Key market segments driving growth:
- Private credit dominates with $15.5B in active loans
- Tokenized Treasuries account for $7.4B, up 500% year-over-year
- Gold tokenization shows $2.1B in proven adoption
Ondo Finance has tokenized over $1.8 billion in RWAs, establishing itself as a major player in the space.
While the total RWA market appears large at $300B, 92% consists of stablecoins. Non-stablecoin RWAs represent just $25B - still only 0.01% of global financial assets despite 2x annual growth.
The sector faces real challenges:
- Most projects rely on trust assumptions they claim to eliminate
- Regulatory frameworks remain unclear for public tokenized securities
- Data and oracle infrastructure gaps persist
However, genuine adoption is concentrated in three proven categories: private credit offering 9.7% yields, programmable Treasury yields serving as DeFi collateral, and 24/7 tradeable gold.
RWAs are evolving into crypto's yield layer through reliable infrastructure rather than speculative tokenization of everything.
Tokenized RWAs are becoming one of crypto’s biggest markets. “The total market for tokenized RWAs sits at $30 billion, up nearly 4x in the last two years” highlighted by @a16zcrypto's State of Crypto 2025 report. To date, Ondo has tokenized over $1.8 billion in RWAs.
State Street, a $5T asset manager, on institutional crypto adoption: “Stablecoins and tokenized RWAs are the largest component of institutional digital asset allocations.” @StateStreet's study indicates institutional allocations are expected to reach 16% within three years.
DRW and BlackRock Executives Predict All Frequent Trading Will Move Onchain Within 5 Years
**Major financial leaders are making bold predictions about blockchain adoption in traditional markets.** - DRW Trading CEO Don Wilson and BlackRock COO Rob Goldstein believe **every frequently traded instrument will be onchain within 5 years** - This follows BlackRock CEO Larry Fink's recent statements calling tokenization "the next frontier" for asset management - The vision encompasses **tokenizing all asset classes** - from real estate to equity to bonds **The shift represents a move toward more open, efficient, and accessible markets.** BlackRock, the world's largest asset manager, sees this transformation as inevitable rather than speculative. Tokenized assets are already gaining traction through various platforms offering exposure to US Treasuries, stocks, and ETFs. The executives' timeline suggests **mainstream adoption is accelerating faster than many anticipated**. This convergence of traditional finance leaders around blockchain technology signals a significant shift in how markets may operate in the near future.
🥞 PancakeSwap Joins Alliance
**PancakeSwap joins Global Markets Alliance** to standardize tokenized stocks and ETFs on blockchain. The leading BNB Chain DEX becomes the **30+ member** in the coalition working on bringing traditional securities onchain. - PancakeSwap processes billions in daily trading volume - Alliance focuses on aligning standards for tokenized assets - Growing industry collaboration for traditional finance integration
Ondo Targets $110 Trillion Traditional Finance Migration to Blockchain
**Massive Traditional Finance Opportunity** U.S. capital markets represent enormous value: - $28 trillion in U.S. Treasuries - $69 trillion in U.S. stocks - $13 trillion in U.S. ETFs **Ondo's Blockchain Bridge** Ondo Finance positions itself as the pathway to bring these traditional assets onchain. The company previously pioneered tokenized U.S. Treasuries and now aims to expand access to stocks. **Market Context** With over $110 trillion in combined traditional assets, only a small fraction currently exists in tokenized form on blockchain networks.
🏛️ Ondo Challenges SEC Over Nasdaq's Tokenized Securities Rules
**Ondo Finance submitted an open letter to the SEC** opposing Nasdaq's proposed rule changes for tokenized securities trading. The company argues the proposal should be **halted until critical information becomes public**, specifically regarding how the Depository Trust Company (DTC) will handle tokenized settlement. **Key concerns:** - Lack of transparency prevents proper assessment by regulators and market participants - New market rules require clear, public information for all stakeholders - Current proposal lacks sufficient detail for informed decision-making Ondo emphasizes that **tokenization represents the future of financial infrastructure** and should advance through open collaboration and transparent standards. The company calls for the SEC to gather more comprehensive information before finalizing any decisions on tokenized securities trading rules. [Read the full letter](https://ondo.finance/blog/call-for-transparency-sec)