Real-World Asset Sector Hits $12.8 Billion TVL High Driven by Institutional Interest

On July 2, the total value locked (TVL) in the Real-World Asset (RWA) sector reached a new all-time high of $12.8 billion, reflecting a 3.2% increase from the previous month. This milestone was driven by significant contributions from major players in the sector, with BlackRock’s BUIDL fund leading the way with a TVL of $2.84 billion. Following closely were Ethena’s USDtb with $1.46 billion and Ondo Finance with $1.39 billion. This surge in TVL underscores the growing institutional interest in tokenized U.S. Treasuries and indicates a maturing regulatory environment that is increasingly supportive of crypto-native instruments.

The RWA market is rapidly gaining traction as institutions seek yield-generating, compliant crypto-native instruments. Tokenized Treasuries, spearheaded by prominent names like BlackRock and Ondo, are emerging as a key on-chain asset class. Continued regulatory clarity and infrastructure development are expected to further accelerate the adoption of these instruments, positioning them as a cornerstone of the evolving financial landscape.

Owlverse, a decentralized compute platform built on DePIN (Decentralized Physical Infrastructure Network), is set to launch on July 4 at 12:00 PM UTC. This platform enables users to deploy mining units and create token-driven smart task systems, integrating with TrendX to support AI workloads, IoT, and data services with distributed compute resources. The convergence of DePIN and decentralized AI is well-timed with Owlverse’s launch, as the DePIN market is expected to reach significant heights. Projects like Owlverse, which combine token incentives and physical compute resources, are poised to redefine how AI infrastructure is built in the Web3 ecosystem.

Bitcoin mining firm BitFuFu reported a hashrate of 34.1 EH/s and BTC holdings of 1,709 as of mid-2025. The firm has been included in Bitwise’s Bitcoin Standard Corporations ETF (OWNB), ranking among its top 10 holdings with a 4.03% allocation. This inclusion highlights the rising recognition of mining firms as BTC-native equities among investors. However, as sustainability concerns grow, BitFuFu’s energy mix and environmental impact may draw further regulatory attention, potentially influencing its future trajectory in the market.