| Asset class | Products included in asset class | Estimated market cap in trillion U.S. dollars |
|---|---|---|
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
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| - | - | - |
| - | - | - |
McKinsey & Company
June 2024
Worldwide
June 2024
All figures are estimates, and have likely been rounded. The source adds that tokenized cash and deposits were excluded from the total figure, to prevent double counting.
The source adds that cash and deposits "are often used as the corresponding cash legs in the settlement of trades involving tokenized assets". Therefore, the source excluded cash and deposits from the total figure to prevent double counting.
Real world asset (RWA) tokenization refers to the conversion of ownership records of a (real world, physical) asset into a digital token on a blockchain-based ledger. Cryptocurrency and stablecoin technically do not fall into this, as these are decentralized and are separate (digital) entities issued by individuals or companies.









