With Bitcoin and the crypto market taking a hit today it has some people on edge as we dip below the 60k mark for bitcoin and under 2.4 trillion for the crypto market cap. But that's not all the stock market has been taking a pounding as well as the down slips 1% and the S&P 500 down 0.8% is showing us all there's some big time uncertainty in the world again and a most likely very overbought market.
However one sector is starting to see massive gains and that's the RWA Real World Asset sectors that mainly Blackrock has a hold on right now. These RWAs mainly roll around government treasuries which seem to be a hot ticket item at the moment as they are paying some rather healthy sums while most banks are starting to slowly cut their APR yields.
While some banks are pushing just a little over 5% there's many that are closing up shop or offering low 4% yields and heck there are some offering hardly no yields at all.
But US treasury bonds are seemingly pushing a mid 4% range or a bit higher offering some rather lucrative income that is semi beating inflation at least the CPI number which is seeing massive inflows of funds lately.
BlackRock's BUIDL
BUIDL is blackrocks big RWA asset management token. It's now captured yet another 70 million dollars in assets in just last week. That's over 10 million per day! The BUIDL token is represented on the Ethereum network and is backed by U.S Treasury bills, repo agreements and cash which holds a massive 375 million dollars worth of these assets within it.
It's now overtaken one of the first founders which as Franklin OnChain U.S Government Money Fund.
This goes to show us that the SEC and all this battling is going to fall into another slap in the face for Gary as the US Government is more and more relying on these tokenized assets (Including blackrock's which is on the Ethereum network) Being that blackrock is operating one of the biggest and fastest growing assets that is pumping money into the US treasury market you can bet ya that they are going to have a few choice words for the SEC who is trying to stop them.
Currently U.S Treasuries are the biggest RWA and most likely always will be. It's a unique way for people all over the world to get involved in treasury bonds on a much easier level.
We also have lots of new players entering the space as the RWA battles continue to heat up.
BACKED
Backed is a new tokenized asset issuer and recently raised 9.5 million. This company is based out of Switzerland. What's very clear now is RWA are becoming a global system and in doing so and the speed of which it's being adopted we could see a 10 trillion dollar market cap on these assets if not higher by 2030.
The Switzerland company also offers up stock options of RWAs which is going to become another major central focus. The stocks they are offering now are mainly COIN (coinbase) and TSLA (tesla).
It's important to note however these RWA really don't do to much to help the crypto markets and instead simply piggy back off of some of the blockchains. I don't see these RWAs helping crypto growth but instead creating a more all digital world with the famous saying. "You'll own nothing and be happy" meaning all of your assets will be in digital form.
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I feel like I hold a couple of these on Coinbase, but if they are really new I am not sure how that is possible.
The connection between BUIDL and the U.S. Treasury bill is very interesting. It is not really easy to decipher the US government stand on cryptocurrency. One agency opposing and another stacking.