Original | Odaily Planet Daily ( @OdailyChina )
Author | Ethan ( @ethanzhang_web3 )
RWA Sector Market Performance
According to the latest data from RWA.xyz, as of June 24, 2025, the total value of RWA on the chain reached US$24.29 billion, an increase of 1.67% from US$23.91 billion on June 17, maintaining a stable upward trend. The number of on-chain asset holders is 209,678, an increase of 13.16% from 185,289 last week, with rapid expansion for two consecutive weeks, and the user base continues to expand. The number of asset issuances remained unchanged at 194. The total value of stablecoins rose from US$238.03 billion to US$238.99 billion, up 0.4%; the number of stablecoin holders rose from 167.45 million to 168.65 million, an increase of 0.71%.
From the perspective of asset structure, private credit continued to grow to $14.2 billion this week, an increase of $400 million from last week, and its share remained the largest, making it the most supportive asset type in the current RWA ecosystem. The value of U.S. Treasury bonds increased slightly to $7.4 billion, and the market continued to have demand for the allocation of stable assets.
Commodity assets rose to US$1.6 billion this week, marking the third consecutive week of increase, which may be related to fluctuations in the global commodity market; the total value of institutional alternative funds also continued to grow, from US$543.1 million to approximately US$543 million, a small but stable increase; stock asset data was not disclosed separately.
What is the trend (compared to last week )?
The total market value on the chain continues to break through, and the number of users has increased significantly: After breaking through US$23 billion for two consecutive weeks , the total market value of RWA this week is close to US$25 billion, and the number of holders has increased by more than 24,000 per week , indicating that the trend of user influx has not slowed down, and the RWA ecosystem is attracting more and more institutional and retail investors to participate; private credit has grown strongly, with a significant weekly increase: this weeks increase was nearly US$400 million , indicating that the market still maintains confidence in the allocation of high-yield assets, which is the core driving force for the current structural growth of RWA; defensive assets such as U.S. Treasuries have been steadily increased: U.S. Treasuries have risen to US$7.4 billion , continuing to play a ballast role, and are still favored by investors in the current context of repeated global interest rate expectations; commodity assets continue to rise, which may be driven by macro factors: the commodity market may be affected by inflation, geopolitics and other factors, and the chain shows a corresponding allocation tendency ; alternative funds maintain moderate growth, and the structural supplementary role is stable: the performance is stable and continues to provide support for diversified asset portfolios.
As of June 24, the RWA on-chain asset market as a whole maintained an operating trend of steady growth + user expansion + structural optimization . High-yield and low-volatility assets achieved synergistic growth, the market participation base was further expanded, and the ecological activity continued to rise. It is recommended that investors continue to adhere to the strategic framework of risk diversification + active rotation at the current stage: on the one hand, they can capture growth opportunities in core assets such as private credit, and on the other hand, they can increase the allocation ratio of stable assets such as US bonds, commodities, and alternative funds to balance the portfolio risk. At the same time, pay attention to the platforms dynamic disclosure and structural expansion in emerging tracks such as stock assets, and make preparations for medium- and long-term layout.
Review of key events
Senator Hagerty says Trump is ready to sign the GENIUS Act
U.S. Senator Hagerty said in an interview with crypto KOL Scott Melker that President Trump is ready to sign the GENIUS Act, adding that the bill may reach his desk soon. The bill is seen as an important milestone in stablecoin regulatory legislation and may have a profound impact on the industry.
Coinbase seeks SEC approval to launch ‘tokenized stocks’
Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a tokenized stock trading service. The companys chief legal officer Paul Grewal said the plan is a key priority for Coinbase, and if approved, it will allow the platform to compete directly with traditional brokerages such as Robinhood.
After the Trump administration took office, the US crypto regulatory environment has improved significantly. In February this year, the SEC withdrew its 2023 enforcement action against Coinbase. Analysis shows that if the plan is approved, the SEC may release it through a no action letter. Currently, exchanges such as Kraken have provided similar services to overseas users.
Deutsche Bank, Memento Blockchain and Axelar Network developer Interop Labs jointly released the DAMA 2 project white paper, proposing a next-generation asset tokenization platform solution for institutions. The platform is built on Ethereum Layer 2, emphasizes compliance and privacy protection, uses zkSync ZK Chain technology and implements multi-chain asset issuance through Axelar, and aims to serve the creation and custody of assets such as stablecoins, funds and RWA. DAMA 2 adopts the blockchain as a service model to lower the entry threshold for institutions, and the main network is expected to be launched in the second half of 2025.
JPMorgan Chase announced that it will pilot the issuance of JPMD tokens on Coinbases public blockchain Base, representing US dollar deposits. The first transfer will be completed within a few days and will only be available to institutional clients. JPMD is scalable and may support interest-bearing and deposit insurance in the future, and is seen as a compliant alternative to stablecoins.
Ondo Finance launches Global Markets Alliance
Ondo Finance announced the launch of the Global Markets Alliance, which aims to coordinate industry standards, promote the interoperability of tokenized securities, and shape the practices and standards of tokenized securities around interoperability, investor protection, liquidity and composability. Participating institutions include the Solana Foundation, Bitget Wallet, Jupiter, Trust Wallet, Rainbow Wallet, BitGo, Fireblocks, 1inch and Alpaca.
Mainstream crypto platforms will accept BlackRock money market fund BUIDL as collateral assets
BlackRock’s first money market fund issued on a public blockchain, BUIDL (launched in partnership with tokenization agency Securitize), will soon become a recognized collateral asset on trading platforms Crypto.com and Deribit. This means that institutions and professional traders can now use interest-bearing, blockchain-native U.S. Treasury tokens as trading margin. Because BUIDL combines low volatility (currently annualized returns of approximately 4.5%) and yield attributes, exchanges can reduce minimum collateral requirements and free up more funds for other investments.
Hot Project Dynamics
Ondo Finance (ONDO)
One sentence introduction:
Ondo Finance is a decentralized finance protocol that focuses on the tokenization of structured financial products and real-world assets. Its goal is to provide users with fixed-income products such as tokenized U.S. Treasuries or other financial instruments through blockchain technology. Ondo Finance allows users to invest in low-risk, highly liquid assets while maintaining decentralized transparency and security. Its token ONDO is used for protocol governance and incentive mechanisms, and the platform also supports cross-chain operations to expand its application scope in the DeFi ecosystem.
Latest News:
On June 17, Ondo Finance announced that it would work with the Solana Foundation, Bitget Wallet, Trust Wallet, Jupiter, Fireblocks and BitGo to jointly establish the Global Markets Alliance, which aims to promote the capital market chain and develop interoperability standards for on-chain stocks.
Plume Network
One sentence introduction:
Plume Network is a modular Layer 1 blockchain platform focused on the tokenization of real-world assets (RWA). It aims to transform traditional assets (such as real estate, art, equity, etc.) into digital assets through blockchain technology, lowering the investment threshold and improving asset liquidity. Plume provides a customizable framework that supports developers to build RWA-related decentralized applications (dApps) and integrate DeFi and traditional finance through its ecosystem. Plume Network emphasizes compliance and security, and is committed to providing solutions that bridge traditional finance and the crypto economy for institutional and retail investors.
Recent Updates:
On June 17, Plume announced that Chainlink CCIP (Cross-Chain Interoperability Protocol) has been launched on its mainnet, supporting secure cross-chain messaging and native token transfers, connecting 46+ networks. The next day , Plume announced that M0 ( @m0 ) The Universal Stablecoin Platform is natively deployed on the Plume mainnet, unlocking the programmable layer of stablecoins in the RWAfi economy.
On June 18, Plume announced the establishment of its headquarters in the Empire State Building in New York, stating that New York is the center of global finance and that Plume will promote the compliant development of RWAfi in the United States through multiple rounds of communication with policymakers such as the U.S. Treasury Secretary and the Vice President.
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