Skip to navigationSkip to main contentSkip to right columnBrian McGleenonFri, July 3, 2026 at 9:42 PM GMT+2 8 min readtokenization. Photo by BeInCryptoA new BeInCrypto Intelligence report, built with market data from RWA.xyz and feedback from BeInCrypto's Expert Council, tracks roughly $60 billion in tokenized real-world assets across more than 7,000 products and 12 asset classes. The findings show a market that is growing, but still narrow.Just 62 assets hold 88% of total value. Five products account for roughly half the market: Figure HELOC, Circle USYC, Tether Gold, BlackRock BUIDL, and Justoken JMWH.The activity gap is just as stark. Across 1,289 tokenized assets valued above $100,000, 910 assets worth $32.9 billion showed zero weekly transfers.Access is also limited. The report found that 97% of the market sits outside US retail reach. Only about $1.7 billion is legally accessible to US retail investors.Meanwhile, tokenized stocks are growing fast by product count, but the report found that 59% of stock tokens provide synthetic price exposure rather than actual ownership of the underlying shares.These findings raise a direct question: is tokenization failing to deliver on liquidity, or is the market still in an early infrastructure phase?BeInCrypto asked five industry executives to respond to the report's findings.Real State of Tokenization in 2026Tal Elyashiv, Co-Founder and Managing Partner of SPiCE Venture Capital and Co-Founder of Securitize, said the report's finding on tokenized equities points to a real structural issue."My stance on what the report shows about tokenizing shares/equity, is that this tokenization needs to be at the source. Tokenization that does not include full ownership is problematic at best, and completely wrong IMHO. This is exactly what Securitize is doing."Tal Elyashiv, Co-Founder of SecuritizeElyashiv also argued that low transfer activity should not be read as failure in every case. Many early tokenized products were designed for institutional issuance, compliance, and settlement, rather than public secondary trading."Many of the first assets tokenized were funds (VC funds, private funds). Tokenization in these cases was not done to facilitate retail/public trading, but rather to upgrade institutional issuance infrastructure, compliance, and settlement. BUIDL for example, was created for institutional TradFi and DeFi use cases (and this is what it serves)"That view matches one of the report's central distinctions. Some assets are Distributed and can move across public blockchain rails. Others are Represented, using blockchain mainly as a digital record of an off-chain position.For Elyashiv, that first stage had to prove resilience before tokenized assets could move into broader distribution.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info