Currently, global tokenized assets (RWA) account for only 0.01% of the market value of stocks and bonds. Grayscale predicts that this may grow 100 times in the future.
This figure sounds exaggerated, but in light of the current state of traditional assets, it is not difficult to understand why such expectations exist.
The biggest pain point of traditional assets is
Although the volume is large, the liquidity is poor, the structure is complex, and the barriers to participation are high, making cross-regional settlement costs expensive. Many quality assets are like being locked in local institutional cabinets, similar to 'unsold houses'; outsiders can't touch them, and insiders find it hard to cash out.
The emergence of RWA is actually an inevitable alternative.
Just like how ETFs packaged a basket of stocks into easily purchasable shares, the internet transformed information from a monopoly held by a few into low-cost dissemination, and stablecoins brought the dollar into a 7×24 hour global network—RWA is using blockchain to segment traditional assets, accelerate settlement, and lower barriers, allowing them to flow freely in the global network.
When 'more segmentation, faster settlement, lower barriers' becomes the default option, the migration of assets from traditional markets to on-chain is just a matter of time.
There are two key points here
Whoever lays the infrastructure pipeline first, enabling assets to go on-chain at low cost and securely; the SEC's regulatory stance on RWA next year will likely determine the rhythm and outcome of this track.
In other words, RWA is not a speculative concept, but is addressing the old problem of liquidity in traditional assets. As long as the regulatory path is clear and the technological pipeline is mature, it has the opportunity to slowly awaken the enormous market value that has been 'asleep'.
It is still very small now, but precisely because it is small, it leaves room for structural growth.
