RWA Tops Crypto Returns in 2025 as Bitfinex Eyes Trillion-Dollar Market

• RWA tokens led crypto performance this year, posting average gains of 185.8% YTD.
• On-chain RWA data shows $19.05B in distributed value and over $261B in represented assets.
• Bitfinex Securities expects tokenized RWAs to reach a $1 trillion market within a decade.

Real-world assets (RWA) finished the year as the strongest performing crypto narrative by price. According to CoinGecko data, RWA tokens delivered average gains of 185.8% year-to-date, outperforming every major sector despite a slower market overall.

The gains were driven by a small group of large winners. Keeta Network surged 1,794.9% YTD, Zebec Network rose 217.3%, and Maple Finance advanced 123%. However, RWA performance was sharply lower than last year’s 819.5% average gains.

Capital Flowed On-Chain, Not Into Hype

RWA strength stood out against widespread losses elsewhere. Meme coins fell an average of 31.6% YTD, while AI-related tokens dropped 50.2%. DeFi and DEX narratives also posted losses of 34.8% and 55.5% respectively.

Layer 1 was the only other narrative to close the year solidly positive, with average gains of 80.3%. Privacy-focused chains such as Zcash and Monero led the sector, rising 691.3% and 143.6%.

It is important to note that RWA and layer 1 were the only narratives to remain profitable for a second straight year. Another profitable narrative this year was the Made in US category with XRP, ADA, and others rocketing under Donald Trump’s pro-crypto agenda.

Related: India Moves Toward RWA Adoption as MP Proposes Tokenization Bill

RWA and the Trillion-Dollar Mark

According to RWA.xyz, distributed on-chain asset value stands near $19.05 billion, while represented asset value exceeds $261 billion. Total asset holders have risen to roughly 594,000, up more than 7% over the past month.

Stablecoins remain the settlement layer for this expansion. Total stablecoin value sits near $298.5 billion, with more than 214 million holders globally.

Meanwhile, Jesse Knutson, head of operations at Bitfinex Securities, said tokenized real-world assets are positioned for another growth phase, led by emerging markets.

He argued that these regions adopt on-chain settlement faster due to limited legacy infrastructure and easier access to global capital through tokenization.

Knutson expects the total RWA market to reach $1 trillion within the next decade. He noted that developed markets currently dominate tokenization through fixed-income products such as US Treasuries, while developing economies focus more on real estate, commodities, and physical assets.

Related: Hong Kong Unveils 10-Year Plan for RWA Tokenization and Digital Markets