Tokenized assets were the only major crypto sector that grew over the past year. While DeFi, AI, infra, DePIN and memecoins all lost market cap, tokenized assets increased 267%, from $2B to $7.5B. I think the key point is that this growth came from issuance iykyk. Gold built the initial base, its price increased nearly 20%, while tokenized gold holdings roughly doubled from 524K to more than 1M ounces. But equities created the biggest structural shift. A year ago, precious metals represented almost the entire openly traded tokenized asset market. By June 2026, that share had fallen to 68%. Tokenized stocks and ETFs went from almost zero to 23% of the sector. By token count, the market is already concentrated: – @bitget | rStocks: 568 tokens, 37% – @Ondo: 406 tokens, 27% – @xStocksFi: 183 tokens, 12% – @RobinhoodApp: 94 tokens, 6% – @DinariGlobal: 82 tokens, 5% rStocks and Ondo alone account for nearly two-thirds of all tokenized stocks. What surprised me most is how quickly exchanges are entering this market. – @binance launched bStocks in June and reached 46 tokens. – @Gate followed with gStocks in July and reached 63. Of course, token count alone does not tell me which issuer will win. I care more about liquidity, asset backing, redemption, regulation and distribution. But it does show where platforms expect demand to move. My soft prediction is that tokenized stocks will take a larger share of the RWA market through the rest of 2026, while the gap between issuers becomes wider. Platforms with exchange distribution and deep liquidity should grow faster than issuers that only offer a large catalog. I am not trying to gain exposure to every RWA-related token. I am focusing on the issuers and infra with real distribution, reliable backing and growing secondary-market liquidity. The sector was also the most-listed category on CEXs in H1 2026. What started mainly with gold is now expanding into stocks, ETFs and other financial assets. For me, the next signal is whether users continue trading and holding them after the launch incentives disappear.