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Tokenized real-world asset perps nearly match Bitcoin on major venues

Over the past week, RWA perpetuals hit $61.7 billion in combined tracked volume, with tokenized equities making up 57.8% and commodities 28.2%.

Reported · Written up by our desk · Market Structure

Tokenized real-world asset perpetual futures have surged to nearly the same trading activity level as Bitcoin perpetuals on Hyperliquid and Binance, according to data compiled by Talos and summarized by Cointelegraph.

Cointelegraph reports that, based on a Thursday snapshot, combined seven-day volume across tracked RWA perps reached $61.7 billion, equivalent to 99.2% of Bitcoin perpetual volume on the two venues. The mix skewed toward tokenized equities, which accounted for 57.8% of total RWA perps volume, followed by commodities at 28.2%.

The outlet also cited RWA.xyz data indicating the value of onchain RWAs has grown to about $36.8 billion, excluding stablecoins. Cointelegraph said Hyperliquid alone recorded $25.1 billion in RWA perpetual trading volume during July 13 to July 19, and early figures for the current week suggest momentum, with RWA perpetuals at $37.2 billion and still about 9% above Bitcoin perpetual volume.

Cointelegraph further broke down contract categories: equity-linked contracts totaled $22.8 billion, commodities $9.1 billion, and indexes $4.2 billion. It added that ETFs contributed about $338 million, while foreign exchange, pre-IPO, and other RWA contracts accounted for the remainder.

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