Tokenized RWA Market Is Growing, but 56% Remains Dormant

BeInCrypto says represented assets are doing most of the heavy lifting as liquidity and transfers lag behind. That leaves tokenized finance caught between its promise and what is actually happening onchain.

Key Takeaways

• More than half of the tokenized real-world asset market had no transfer activity last week, according to BeInCrypto research.
• Out of 1,289 tokenized assets above $100,000, 910 assets had zero weekly transfers, totaling $32.9 billion, or 56 percent of the measured market.
• The report says tokenization does put value on the blockchain, but liquidity and infrastructure are still not strong enough for broad trading and use.

More than half of the tokenized real-world asset market saw no transfer activity last week, according to new research from BeInCrypto. Its Real State of Tokenization in 2026 report shows a market racing toward roughly $60 billion (€52.6 billion), even as actual onchain movement remains far below the size of the market itself.

Big Market, Little Movement

The researchers reviewed more than 7,000 products across 12 asset classes and then narrowed the focus to 1,289 tokenized assets worth more than $100,000 (€87,700). Of that group, 910 assets recorded zero weekly transfers. In total, they represented $32.9 billion (€28.9 billion), or 56 percent of the market measured by transfer activity.

Just 379 assets posted any weekly movement. Those tokens accounted for $26.2 billion (€23 billion) in active value. The findings make one thing clear: tokenization can place value on the blockchain, but that does not automatically translate into trading, transfers, or real use across the wider crypto stack.

Represented and Distributed

The report separates tokenized assets into two buckets: Distributed and Represented. Distributed assets can move on public blockchain rails and be used through wallets, platforms, or DeFi protocols. Represented assets, by contrast, function more like an internal digital record tied to an offchain position.

That distinction is important because roughly $27 billion (€23.7 billion) of the dormant value came from Represented assets. In those cases, low transfer activity does not automatically signal a problem, since they are not always designed for a public secondary market. Even so, the data suggests tokenized finance has not yet developed into a broad, liquid market.

Why This Matters

For European crypto readers, the main point is that tokenization is increasingly being pitched as a bridge between traditional finance and blockchain, but liquidity is still the weak spot. The sector is already expanding quickly, with earlier estimates putting tokenized RWAs above $25 billion (€21.9 billion) in 2025 and projecting $4 trillion (€3.5 trillion) to $5 trillion (€4.4 trillion) in tokenized digital securities by 2030.

The report argues that the next stage is less about issuing more assets and more about building the infrastructure needed for access, transfer controls, compliance, collateral use, and deeper markets. Without that foundation, many tokenized assets remain closer to digital records than to financial instruments people can actually use.