{"id":74474,"date":"2026-06-24T06:23:39","date_gmt":"2026-06-24T06:23:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/dwf-labs-says-31-billion-in-rwas-is-onchain-but-less-than-10-is-active-in-defi\/"},"modified":"2026-06-24T06:23:39","modified_gmt":"2026-06-24T06:23:39","slug":"dwf-labs-says-31-billion-in-rwas-is-onchain-but-less-than-10-is-active-in-defi","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/dwf-labs-says-31-billion-in-rwas-is-onchain-but-less-than-10-is-active-in-defi\/","title":{"rendered":"DWF Labs Says $31 Billion in RWAs Is Onchain but Less Than 10% Is Active in DeFi"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">DWF Labs says $31B+ in RWAs is onchain, but under 10% is active in DeFi.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Blackrock\u2019s BUIDL highlights liquidity issues, with fewer than 30 transfers monthly.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Maple Finance and Figure are building tools to unlock RWA trading, yield, and scale.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Blackrock, Maple, and Figure Compete to Unlock Utility for $31 Billion in RWAs<\/h2>\n<p>Institutions have moved more than $31 billion of real-world assets ( <span>RWAs<\/span>) onto <span>blockchains<\/span>. The problem is that most of it is barely moving.<\/p>\n<p>A new report from DWF Labs Research says less than 10% of tokenized <a href=\"https:\/\/defillama.com\/rwa\" target=\"_blank\" rel=\"noopener noreferrer\">real-world assets<\/a>, or roughly $3 billion, is active in <span>DeFi<\/span>. The rest is largely sitting in wallets, held as long-term positions rather than circulating through lending markets, trading venues or collateral systems.<\/p>\n<p>That gap raises a central question for tokenization: is capital simply being digitized, or is it becoming more productive?<\/p>\n<p>The <a href=\"https:\/\/x.com\/DWFVentures\/status\/2069405123319873739\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> points to major tokenized U.S. Treasury funds such as Blackrock\u2019s BUIDL, which it says sees fewer than 30 transfers per month despite holding billions of dollars in assets. DWF Labs said the tokenization boom is real, but the current market still looks more like an issuance story than a <span>liquidity<\/span> story.<\/p>\n<h2>Why Tokenized Capital Is Stuck<\/h2>\n<p>DWF Labs identifies three structural barriers holding back secondary activity.<\/p>\n<p>The first is pricing. Private credit and real estate assets often rely on net asset value updates that arrive daily at best. That makes it difficult for market makers to quote large trades tightly.<\/p>\n<p>The second is settlement and redemption. Many tokenized products still take days to redeem, while onchain <span>liquidity<\/span> remains too thin for institutional-sized flows. Over-the-counter markets exist, but they are fragmented and often inaccessible to retail users.<\/p>\n<p>The third is regulation. Transfer restrictions, know-your-customer checks, and accreditation requirements can make tokenized assets hard to plug into permissionless <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-defi-decentralized-finance\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">DeFi<\/a>.<\/p>\n<p>\u201c <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-liquidity\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Liquidity<\/a> is the binding constraint on scaling tokenization onchain,\u201d said Andrei Grachev, managing partner at DWF Labs. \u201cWhat\u2019s missing is the infrastructure to make those assets tradeable at scale. Solve that, and tokenization becomes a wider market story instead of an institutional one.\u201d<\/p>\n<p>That constraint has also shaped who captures value. So far, asset managers issuing tokenized products have benefited most. Crypto-native infrastructure providers, including lending protocols, pricing <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-an-oracle\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">oracles<\/a>, market makers, and redemption venues, have captured less of the upside.<\/p>\n<figure id=\"attachment_825637\" aria-describedby=\"caption-attachment-825637\" style=\"width:2172px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/06\/dwf-labs-says-31-billion-in-rwas-is-onchain-but-less-than-10-is-active-in-defi-1.jpg?X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&amp;X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIARQKIT2TMGZBKV2L6%2F20260623%2Fus-east-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20260623T163453Z&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Expires=600&amp;X-Amz-Signature=d48e5e8244c8be19249519deabd8478560499f2e3f125c02baf7f99d63368a03\"><\/a><figcaption id=\"caption-attachment-825637\" class=\"wp-caption-text\">Source: DWF Labs<\/figcaption><\/figure>\n<h2>Infrastructure Firms Move to Close the Gap<\/h2>\n<p>DWF Labs says that the imbalance is beginning to change.<\/p>\n<p>Maple Finance has attracted more than $3.6 billion in total value locked by wrapping tokenized credit into <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoin<\/a> collateral products. Pyth and Redstone are building a 24\/7 pricing infrastructure for tokenized stocks and commodities. Symbiotic\u2019s Liquid Lane uses an RFQ model in which market makers compete to price redemption discounts. Figure is taking a different route by integrating origination, secondary price discovery, and settlement into one stack.<\/p>\n<p>The next opportunity may come outside the dominant U.S. dollar market. More than 94% of tokenized assets are dollar-denominated, even though non-dollar sovereign bonds make up a large share of traditional fixed income. DWF Labs highlights emerging-market debt, including Brazilian real bonds yielding around 10% and Turkish lira bonds near 15%, as a gap waiting to be addressed.<\/p>\n<p>The firm also sees room in tokenized commodities and equities. Commodities have already shown demand, while tokenized stocks have grown to more than $1 billion with 185,000 holders in about a year.<\/p>\n<p>For DWF Labs, tokenization\u2019s first phase proved that assets can move onchain. The next phase will test whether those assets can trade, settle, and generate yield at scale. Whoever solves that problem may capture more value than the issuers themselves.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/dwf-labs-says-31-billion-in-rwas-is-onchain-but-less-than-10-is-active-in-defi\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways DWF Labs says $31B+ in RWAs is onchain, but under 10% is active in DeFi. Blackrock\u2019s BUIDL highlights liquidity issues, with fewer than 30 transfers monthly. Maple Finance and Figure are building tools to unlock RWA trading, yield, and scale. Blackrock, Maple, and Figure Compete to [&hellip;]<\/p>\n","protected":false},"author":3947362377,"featured_media":74475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74474"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362377"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=74474"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74475"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}