Intriguing Data in $60 Billion RWA: Why Are More Than Half of the Assets Dormant?

Although the market for tokenized real-world assets (RWA) has reached a size of $60 billion, it has emerged that more than half of the assets do not show active on-chain movement.

The digitalization of real-world assets, one of the most talked-about areas in the cryptocurrency world, seems to be at the very beginning of its journey despite gaining significant growth momentum. A recent report prepared by BeInCrypto Research and rwa xyz shows that the market reached a level of approximately $60 billion as of May 2026. However, behind this massive figure, there are serious questions regarding liquidity and accessibility.

According to the data, the market exhibits a highly centralized structure. While 88 percent of the total value is concentrated in just 62 assets, only 5 main products dominate half of the market. In particular, assets such as Figure HELOC, Circle USDY, BlackRock BUIDL, and Tether Gold stand out as the names with the largest shares in their respective categories. Asset-backed loans take the lead with $22.3 billion, followed by US Treasury debt with $14.4 billion.

Liquidity and Access Issues in the RWA Market

The report’s most striking finding was that 56 percent of the market value showed no on-chain transfer activity on a weekly basis. This proves that many assets currently remain merely in the digital representation stage and have not yet achieved true circulating power. Furthermore, the fact that 97 percent of the market is closed to US retail investors is considered one of the biggest obstacles to growth.

Currently, only US Treasury bonds undergoing the tokenization process have reached the “production-grade” or fully functional level. Commodities at $7.8 billion and private financing products at $1.7 billion represent a smaller slice. While infrastructure work continues, there is still a long way to go for assets to reach broader audiences and gain liquidity.