Tokenized RWA Market Hits Record $28.9B in May; Japan Advances Crypto Legislation as Accounts Exceed 14 Million

According to a Kitco report, the tokenized real-world asset (RWA) market reached a record $28.9 billion in May, with tokenized Treasuries growing to $16.2 billion and tokenized equities rising 20.4% to $2.41 billion. Meanwhile, Japan's parliament is advancing legislation to classify cryptocurrencies as financial instruments, paving the way for crypto ETFs and stronger investor protections as the country surpasses 14 million crypto accounts.

Corporate Bitcoin accumulation has slowed significantly, with daily purchases by digital asset treasury companies falling from over $500 million in April and May to nearly negligible levels in June. Bitcoin spot ETF outflows have exceeded $5.7 billion since mid-May, removing major demand sources as Bitcoin retreated from roughly $74,000 to below $60,000.