Real World Assets:
The Industry Report.

• The state of RWA tokenization in 2026 — where the market actually is vs. the hype
• Institutional capital flows: which asset classes tokenize first, and why
• Protocol landscape: the infrastructure layer taking shape on-chain
• The regulatory environment and institutional adoption timelines
• The GTM opportunity: positioning in a market still being defined
• Original research from primary sources, on-chain data, and institutional filings

About the author — Rick Bakas launched a tokenized asset project on Solana in 2021 and served as CMO for a blockchain protocol in 2023, operating in RWA before the institutional wave arrived. Original analysis, not synthesized summaries.

• Post-Ondo regulatory reset: what the SEC and CFTC moves actually unlock, and for whom
• Updated capital-flow data through Q2 2026 — tokenized treasuries, private credit, and the first real estate volume
• Multi-venue liquidity: how RWA volume is splitting across Solana, Ethereum, and broker-adjacent rails
• A revised GTM playbook for protocol teams entering the institutional conversation