Chris Yin, CEO and co-founder of Plume, argues that if the tokenization of active active world increases in the crypto world, the market is not yet mature enough for institutional investors.
He said that the RWA market was still too small and that the institutions will take the time to see its value. Yin also compared the current state of Rwas to Bitcoin and Stablecoins In their development steps, saying that they must first attract several additional users to attract institutional attention.
He said, “It is only 10 years later, they are starting to think about using Stablecoin. The same will happen in token workers or tokenization.”
Yin claims that Rwas is only worth $ 10 billion, unlike most market analyzes
Yin believes that current estimates of the real asset capitalization market (RWA) are considerably overestimated. While some grant the market value to more than $ 21 billion, he maintains that the real figure is closer to $ 10 billion, which, according to him, is cash, gold and a small private credit.
He even argued that the dominant interpretation of the $ 21 billion figure was wrong, saying: “The prospect that most people have is wrong with this, that is to say that I take these $ 21 billion in assets.”
According to Rwa.xyz data, real assets are market capitalization ruler At $ 21.96 billion on April 30. Private credit led the table of all RWAS, worth $ 12.87 billion, while cash bills represented $ 6.33 billion and $ 1.62 billion basic products.
However, estimates of the co-founder of Stobox, Ross Shemeliak, differ in part from the Rwa.xyz estimates, providing that private credit does not take into account most RWAS but treasury and token obligations. He estimates that the Treasury and Tokenized Obligations represent around 60 to 65% of RWAS.
Shemeliak has recognized that measuring the size of the RWA market is very difficult, especially since private asset data is often inaccessible or fragmented.
He added that almost all businesses around the world are deprived, and almost all are “unusual candidates for tokenization”.
Yin advised the RWA market to depend more on the indigenous community than institutional investors
Yin also said that institutions are waiting for projects to grow so that they can invest, thinking that they can earn more money in this way. He pointed out that tokenized assets have attracted these institutional investors because they seek means to bring money, not save money or improve efficiency.
He added that the RWA market should mainly depend on the indigenous community and not necessarily on institutional investors.
Yin believes that institutions do not inject chain money and are only looking for ways to drain money from the community by selling their products to them.
Shemeliak, however, argued that RWA tokenization would not survive long -term without institutional capital. He even compared the Rwa tokenization without the support of institutions to a scholarship without regulators or guards.
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