Market Insights

What Rules Shape Tokenized Assets? A Reader's Map of RWA Regulation

Tokenized real-world assets do not sit outside the law. In most jurisdictions, regulation follows the underlying asset, not the token wrapper, so a tokenized fund is still a fund and a tokenized bond is still a bond.

2026-07-21 · 8 min read

Market Insights

What Do RWA Market Growth Numbers Actually Measure?

RWA market size headlines cite tens of billions of dollars in tokenized assets, but the number measures on-chain token supply, not product quality or liquidity.

2026-07-21 · 6 min read

Market Insights

Real Estate Tokenization: Why Does the Hardest RWA Category Move Slowly?

Real estate is the most-cited tokenization use case, yet adoption lags tokenized treasuries and private credit. This article explains why — off-chain title transfer, appraisal-based valuation, lumpy and heterogeneous properties, tenant-dependent income, and thin secondary liquidity.

2026-07-21 · 7 min read

Market Insights

Secondary Markets for Tokenized Assets: Why Do Venues Matter as Much as Tokens?

A token can be transferred in seconds, but selling it requires a venue, an eligible buyer, and enough order depth. This article maps where tokenized securities actually trade today — platform-internal windows, regulated exchange pilots, and OTC desks — explains why many tokens only move.

2026-07-21 · 8 min read

Market Insights

The RWA Market Map: What Asset Classes Are Actually Being Tokenized?

A walkthrough of the main asset classes being tokenized across the RWA market: private credit, government debt, commodities, institutional funds, public and pre-IPO equities, corporate bonds, and actively managed strategies.

2026-07-20 · 7 min read

Research

Tokenized Private Funds vs Direct Private Equity: What the Token Wrapper Does Not Change

Tokenized private funds and direct private equity can both involve private-market exposure, but they are different structures. This article compares what changes and what does not.

2026-07-20 · 7 min read

Market Insights

Asset Opportunities Beyond the Secondary Market: How Should Retail Users Understand Them?

Public exchanges are not the only place where assets change hands. This article explains what sits beyond the secondary market — private equity, private bonds, fund shares, and real assets — why retail users historically had little access to them, and what tokenization actually changes.

2026-07-20 · 8 min read

Market Insights

Why Are Institutions Tokenizing Funds and Treasuries?

Major asset managers such as BlackRock and Franklin Templeton have launched tokenized money-market and treasury funds. This article explains what these products are, why institutions issue them — settlement speed, programmability, collateral use, and distribution — and what the trend does.

2026-07-20 · 8 min read

Research

The Illiquidity Premium: Why Do Non-Listed Assets Offer Higher Target Returns?

Non-listed assets often show higher target returns than comparable public-market products. This article explains the illiquidity premium — the extra return investors demand for locking capital up without a reliable exit — what that premium actually compensates for, why a higher target signals.

2026-07-19 · 11 min read

Research

RWA and Diversification: What Adding Non-Listed Assets Does — and Does Not — Do

Non-listed assets are often pitched as diversification: different return drivers and lower correlation to daily market moves. This article explains what is real in that argument and what is not — why smoother reported prices do not mean lower risk, why illiquidity is a genuine cost.

2026-07-19 · 11 min read