The tokenized real-world asset (RWA) market has reached a new milestone, surpassing $25 billion in assets under management (AUM) for the first time, driven largely by Securitize. Securitize, which powers the largest on-chain funds, has seen its tokenized AUM rise to approximately $4 billion, up from an earlier $3.2 billion on the same day. Major institutional investors such as BlackRock, KKR, Hamilton Lane, Apollo Global Management, and VanEck are among the key participants in this market. BlackRock's $2.8 billion BUIDL Fund is currently the largest tokenized RWA, operating live on the Polygon blockchain. Other tokenized products by Securitize include VanEck's VBILL, which has surpassed $60 million in AUM, and Blockchain Capital's BCAP fund, which has exceeded $200 million. The broader tokenized asset market is approaching $250 billion in total AUM, with significant growth potential remaining in tokenized US dollars, US Treasuries, and US stocks, where adoption rates are still below 1%. The Financial Times has noted an 80% increase in total assets held in tokenized Treasury products, highlighting the rapid expansion of tokenized money markets and real-world assets.