[a16z Crypto: Tokenized RWA Surpasses $30 Billion, Growing Tenfold in Two Years] a16z Crypto posted on the X platform, stating that the scale of tokenized real-world assets (RWA) has grown tenfold in two years, now exceeding $30 billion, with nearly half consisting of U.S. Treasury bonds. This growth reflects the rising demand from institutions to bring traditional financial instruments such as government bonds, commodities, equities, and private credit on-chain. While U.S. Treasury bonds currently dominate, this asset class is expanding, with more categories gaining significant shares in recent quarters.