RWA perps will outpace tokenization
Trading volume for Real World Asset (RWA) perpetual futures has surged significantly, outpacing traditional tokenized spot markets. Traders prefer these derivatives due to their 24/7 availability and lower complexity compared to traditional financial instruments.
Why it matters
The rapid growth of RWA perps signals a shift in how digital asset investors gain exposure to traditional commodities and equities, potentially disrupting traditional financial market structures.
RWA perps hit $347 billion in volume in May , a 1,472x increase from the $230 million traded at the start of 2025. Daily open interest on DEXs alone hit a new highs of $4.5 billion in July . By the end of May, exchanges facilitated $1.32 trillion in volume, 13x what we saw in all of 2025.
Part of their rapid ascent is tied to crypto traders seeking exposure to RWAs like commodities and AI equities. The other factor is that perps are a better product (in many cases) than their TradFi alternatives such as futures for commodities and options for equities.
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