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Tokenized RWA Report: $60B Market Has a Liquidity Gap
A new report tracking $60B in tokenized assets finds 80% of secondary trade volume comes from just 10 products. Fragmentation and private placement rules limit liquidity.
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A new BeInCrypto Intelligence report tracks roughly $60 billion in tokenized real-world assets across more than 7,000 products and 12 asset classes. The data draws on market figures from RWA.xyz and feedback from BeInCrypto's Expert Council.
The headline number suggests a maturing market. The report's core finding points to a persistent liquidity problem. Most of those 7,000 products trade infrequently. The top 10 tokenized products account for over 80% of secondary-market volume. The remaining thousands see daily trading that often falls below $100,000. Wide bid-ask spreads and long holding periods are common, the report found.
Exit times can stretch to days or require a discount, the Expert Council said. The liquidity gap undercuts the promise of instant settlement and 24/7 trading that tokenization advocates promote.
The report identifies fragmentation as the root cause. Tokenized assets are scattered across dozens of platforms, each with distinct custody rules and settlement procedures. A tokenized Treasury bill on one chain cannot easily trade against a similar product on another. This limits the pool of potential buyers for any single asset, the report found. Private placement structures further restrict who can hold these products, the Expert Council said.