Institutional Momentum Continues: RWA Market Hits $33.84B Onchain in October 2025, Driven by Fixed Income and Tokenized Gold

The Real-World Asset (RWA) market continued its strong institutional-driven growth trajectory in October 2025, with the Total Value of RWA Onchain reaching $33.84B, marking a significant 10.07% growth over the past 30 days.

Specific data details are as follows: 1. Overall Market and Liquidity Data Total RWA Onchain Value (excluding Stablecoins): $33.84B, 30-day growth rate: +10.07% Total Asset Holders: 482,446, 30-day growth rate: +6.65% Total Stablecoin Value (Stablecoin Infrastructure Capital): $293.84B, 30-day growth rate: +4.35% Among tokenized U.S. Treasury products, Ondo Finance's OUSG reached a market capitalization of $786.6 million, growing by 1.28% in 30 days; Fidelity's FDIT also reached a market capitalization of $222.5 million. 2. RWA Core Asset Class Market Capitalization Distribution Private Credit: Approximately $17B, making it the largest single asset class in the core RWA market, primarily driven by the tokenization of credit funds and short-term financing structures. U.S. Treasuries: Approximately $7.3B, solidifying its position as the foundational on-chain fixed-income asset due to its low-risk and high-liquidity characteristics. Commodities: Approximately $2B, demonstrating on-chain user interest in allocating to physical assets and traditional regulated funds. Institutional Alternative Funds: Approximately $2B. 3. Rapid Growth in Gold and Precious Metals Sector Gold RWA exceeded $2.5B (primarily constituted by XAUT and PAXG). Tether Gold (XAUT) Market Cap: Approximately $1.3B, 30-day growth rate: +21.05%. The growth is mainly attributed to the appreciation of the spot gold price. PAX Gold (PAXG) Market Cap: Approximately $1.2B, 30-day growth rate: +3.99%.

Insights and Conclusion RWA Market is Institutionally Driven and Highly Concentrated in Fixed Income. -Clear Market Dominance: The core RWA market structure exhibits a clear institutional-driven characteristic, primarily dominated by Private Credit (approx. $17B) and Tokenized U.S. Treasuries (approx. $7.3B). -Institutions are primarily seeking to apply on-chain technology to high-barrier, high-efficiency fixed-income strategies rather than retail-driven asset classes. Precious Metals Establish Strategic Value as "Non-Correlated Hedge." RWA demonstrates its effectiveness as a Non-Correlation hedging tool within digital asset portfolios. Tokenized gold serves as a reliable digital safe haven for on-chain capital amid increasing macroeconomic uncertainty. OKX Ventures Believes: Regulation is Key to Future Trillion-Dollar Growth. Clearer regulatory processes will significantly simplify the cross-border issuance and distribution of RWA products, allowing regulated issuers to expand globally and thus removing geographical constraints on RWA market growth.