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Pantera Capital said in its latest report that the real-world asset (RWA) tokenization market—which currently has a size of $321 billion—still remains in an early stage, with most products only serving as blockchain “wrappers” for traditional infrastructure. The report assigned a tokenization progress index score to 542 assets, with an average score of only 2.04 out of 5. Of these, about 77.6% of the assets fall into the “wrapper” category, while only 2.7% reach the “native” level. Pantera noted that there were 168 tokenized assets newly launched in 2025, up 115% from 2024. Total market value increased from about $200.6 billion to $320.6 billion, representing an increase of about 60%. (TheBlock)