Tokenized RWAs Eye $400 Trillion TradFi Market, Says Animoca

Tokenized Assets Poised to Capture Trillions from TradFi

The tokenization of real-world assets (RWAs) could eventually unlock trillions of dollars from traditional finance, according to a new report from Animoca Brands.

Researchers Andrew Ho and Ming Ruan said the $400 trillion addressable TradFi market—spanning private credit, treasury debt, commodities, equities, alternative funds, and global bonds—offers a massive growth runway for tokenization.

At present, the sector represents only a sliver of that total. Tokenized RWAs are valued at roughly $26 billion, highlighting just how early the industry still is.

“There is currently a strategic race to build full-stack, integrated platforms,” the authors noted, adding that the biggest winners will be those who can “control the asset lifecycle.”

RWA Tokenization Hits All-Time High in 2025

The RWA market reached a new peak of $26.5 billion this month, growing 70% year-to-date, according to industry tracker RWA.xyz.

Most of today’s tokenized assets fall into just two categories:

• Private Credit

• U.S. Treasuries

Together, they account for nearly 90% of the total RWA market value. Animoca researchers described the surge as “clear momentum and rising institutional confidence.”

Size of TradFi addressable asset market is 16,000 times larger than the current onchain market. Source: Animoca. 

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Ethereum Leads, But the Future Will Be Multichain

Ethereum remains the dominant platform for tokenization, holding a 55% market share and more than $156 billion in on-chain value, including stablecoins. Factoring in its layer-2 networks like Polygon, Arbitrum, and ZKsync Era, Ethereum’s footprint expands to 76% of the market.

Animoca’s report credits Ethereum’s lead to its security, liquidity, developer base, and thriving DeFi ecosystem.

But the researchers caution that competition is heating up:

• Purpose-built blockchains and high-performance networks are starting to carve out market share.

• A multichain future is likely, with both public and private blockchains playing key roles.

• Interoperability will be critical to ensuring long-term adoption.

Total RWA value at ATH. Source: RWA.xyz

ETH and LINK Could Benefit from RWA Expansion

The growth of tokenized RWAs is not just reshaping financial infrastructure—it could also drive demand for major crypto assets.

• Ethereum (ETH) recently surged to a new all-time high of $4,674, supported by its central role in RWA tokenization.

• Chainlink (LINK), a leading oracle provider, has also outpaced the broader crypto market as demand for secure, real-world data feeds grows.

Animoca Launches NUVA: A New RWA Marketplace

To capture this momentum, Animoca Brands recently unveiled NUVA, its own tokenized RWA marketplace. The move signals the firm’s bet that tokenization will be one of the most transformative forces in digital finance.

Conclusion: From Billions to Trillions

While RWAs are only worth $26.5 billion today, Animoca’s research underscores the sector’s potential to scale into trillions of dollars as traditional financial assets move on-chain.

With a $400 trillion market waiting to be digitized, tokenization could become one of the defining drivers of blockchain adoption in the coming decade—provided platforms can build the infrastructure, security, and interoperability needed to bridge TradFi and Web3.

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