by Coinstrooper Crypto Articles
Quick Take
  • The tokenized real-world asset market has reached more than $60 billion, but most of that value remains concentrated, restricted, or inactive on-chain.
  • It found that just 62 assets hold 88% of the market value, while five products account for roughly half.
  • Of 1,289 tokenized assets worth more than $100,000, only 910 assets representing $32.9 billion recorded zero weekly transfers.
  • Meanwhile, 97% of the market remains outside US retail access.

What Happened

Dori’s argument is that regulated platforms must connect issuers and investors across chains while preserving local legal and compliance requirements.

Market Context

The tokenized real-world asset market has reached more than $60 billion, but most of that value remains concentrated, restricted, or inactive on-chain.

BeInCrypto Intelligence’s Real State of Tokenization in 2026 report, built with market data from RWA.xyz, tracked more than 7,000 products across 12 asset classes. It found that just 62 assets hold 88% of the market value, while five products account for roughly half.

Meanwhile, 97% of the market remains outside US retail access. BeInCrypto asked members of its Expert Council what these findings reveal about the state of tokenization.

Rodford argues that institutions need a regulated layer above individual networks. It would handle issuance, trading, custody, and settlement without tying firms to a single blockchain.

Theo: Dormant Assets Show a Half-Built Market

Iggy Ioppe, CIO of Theo, said the $32.9 billion in dormant value does not prove tokenization has failed. Instead, it shows that much of the market has stopped at representation.

Around $27 billion of the dormant value came from Represented assets. Many were designed for recordkeeping and institutional settlement rather than public trading.

Sygnum: Regulation Could Create Regional Liquidity Silos

Fabian Dori, CIO of Sygnum Bank, said the market risks splitting into isolated pools as jurisdictions develop different rules and standards.

“A regulated asset bank can help prevent tokenized markets from hardening into isolated regional liquidity pools by acting as a compliant interoperability layer rather than trying to force one universal token across all jurisdictions.”

The report found that EU-regulated products account for only $3.3 billion, or 6% of the core market.

WAODAO: Tokenized Assets Need a Liquidity Network

Aleksandr Cryptoved, Founder of WAODAO, said the report exposes the difference between putting an asset on-chain and creating a functioning market around it.

Why It Matters

The activity gap is even sharper. Of 1,289 tokenized assets worth more than $100,000, only 910 assets representing $32.9 billion recorded zero weekly transfers.

Archax: Institutions Should Not Have to Choose a Chain

Details

Graham Rodford, CEO and Co-Founder of Archax, said blockchain fragmentation is making institutional adoption harder than necessary.

“The fragmentation problem is real and it’s not going away,” Rodford said. “Every major asset manager we speak to is dealing with the same operational question: which chain do I pick, and what happens when the next one emerges? The honest answer is that they shouldn’t have to pick.”

He also rejected the idea that public blockchains are automatically unregulated.

“What determines regulatory safety isn’t the chain – it’s the gateway.”

“Wrapping an asset and parking it is ‘tokenization theater’. The real work is making tokens usable – as collateral, in DeFi, in live settlement.”

The report distinguishes between Distributed assets, which can move across public blockchain rails, and Represented assets, which mainly use blockchain as a digital record.

Still, Ioppe said the next stage will depend on whether tokenized assets can move, earn yield, settle around the clock, and connect to wider financial infrastructure.

“The assets are on-chain; the next phase is making them work.”