BlackRock, with potential support from HSBC, has entered the real-world assets (RWA) market with a new tokenized fund, signaling a significant move by major traditional finance (TradFi) institutions towards adopting blockchain technology for tokenizing real-world assets. This development is seen as a transformative step that could democratize access to institutional-grade investments, akin to the revolutionary impact of credit cards on consumer spending and retail brokerage accounts on market access. The potential for tokenization to unlock growth in sectors like AI, fintech, and Web3 has been highlighted, with McKinsey publishing an article on the subject. However, previous attempts to tokenize real-world assets faced regulatory challenges from the SEC, which led to a focus on tokenizing digital or 'imaginary' assets instead. Previous cycles have seen significant returns, such as $BNB 200x, $SOL 200x, and $MATIC 150x.