Wintermute released a report stating that previous cryptocurrency bull markets are typically accompanied by the formation of new liquidity channels, including VC/ICO, Stablecoin, as well as ETFs and digital asset treasury companies (DAT). As ETFs and DAT become increasingly normalized, RWA may become a new funding channel for the next market cycle. The report states that the scale of on chain tokenized assets has increased by about three times in the past year to over 30 billion US dollars, and the net inflow of RWA in the past 12 months is about 16 billion US dollars, which is still relatively small compared to the net inflow of ETFs of about 63 billion US dollars and the cumulative purchase of DAT exceeding 115 billion US dollars in the previous cycle. Wintermute believes that whether RWA can become a new liquidity channel depends on whether tokenized assets can be used more as collateral to enter DeFi and generate on chain fund flows beyond cash management purposes. https://(wublock123.com)/news/wintermute-rwa-new-capital-channel-for-next-crypto-cycle-67668