Report: RWA Market Size Surpasses $24 Billion, Could Reach $30 Trillion by 2034
TechFlow Selected TechFlow Selected
Report: RWA Market Size Surpasses $24 Billion, Could Reach $30 Trillion by 2034
Gauntlet's model suggests that once tokenized lending reaches 5% of the global $3 trillion market, on-chain private credit could exceed $250 billion.
Navigating Web3 tides with focused insightsSource: Cryptoslate
Compiled by: Blockchain Knight
A joint report released on June 26 from risk modeling firm Gauntlet, analytics provider RWA.xyz, and RedStone forecasts that the on-chain real-world assets (RWA) market could reach as high as $30 trillion by 2034.
The research shows that tokenized real-world assets excluding stablecoins have grown from approximately $5 billion in 2022 to over $24 billion by June 2025, achieving an 85% annual growth rate—making it the fastest-growing sector in crypto after dollar-pegged tokens.
According to the rwa.xyz dashboard embedded in the report, private credit dominates the market with $14 billion in outstanding volume, while tokenized U.S. Treasury instruments account for around $7.5 billion.
The report models multiple adoption curves and concludes that if on-chain assets capture 10% to 30% of global securities and alternative assets between 2030 and 2034, the market size could range between $16 trillion and $30 trillion.
The report notes that BlackRock, JPMorgan, Franklin Templeton, and Apollo are now issuing scaled funds on public blockchains, indicating that tokenization has moved from proof-of-concept to actual deployment in less than two years.
On platforms like Morpho and Kamino, yield-bearing Treasury tokens, redeemable share classes, and leveraged private credit facilities demonstrate how DeFi infrastructure can create new distribution channels and liquidity venues for traditionally illiquid financial instruments.
RedStone argues that accurate pricing depends on oracle architectures that integrate net asset value snapshots, regulatory attestation, and liquidity discounts—a framework distinct from the real-time spot data sources common in DeFi.
Models from Gauntlet suggest that once tokenized loan originations reach 5% of the global $3 trillion market, on-chain private credit could exceed $250 billion.
In comparison, if asset managers allocate just 2% of their short-term funds to blockchain infrastructure, the规模 of Treasury bill tokens could surpass $1 trillion.
The report authors predict that programmable compliance layers (such as Securitize's sToken) along with increasing regulatory clarity in the U.S., Europe, and Asia will enable pension funds and insurance companies to directly allocate to tokenized products, thereby expanding the addressable investor base beyond crypto-native capital.
RedStone plans to update its market size tracker quarterly and add real-time oracle feeds for an on-chain RWA index. Meanwhile, Gauntlet will publish risk parameter adjustments for leveraged vaults tied to private credit pools.
The consortium will hold a further briefing at the RWA Summit in Cannes on July 1, where detailed capital inflow data and the methodology underpinning its $30 trillion upper-bound model will be unveiled.
The report points out that today’s $24 billion market represents only about 0.006% of the traditional $400 trillion asset base, but argues that institutional issuance momentum and the advantages of programmable settlement justify the $30 trillion scenario over the next nine years.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@CryptoSlate
