Tokenized Real Estate Volumes Cross $20 Billion as Institutional Mandates Build
Quarterly issuance crosses $6 billion as Capimax, Securitize and RealT compete to set the institutional standard.

Tokenized real-estate issuance crossed $6.2 billion in the first quarter, taking cumulative outstanding volume across all live structures to roughly $21 billion, according to data compiled by RWA.xyz.
Capimax PropShare, Securitize and RealT remain the dominant primary issuance platforms by volume, with combined market share of approximately 58 percent.
Institutional-quality custody — long the gating constraint — is now broadly available through BNY Mellon, State Street, Anchorage Digital and a small number of other regulated custodians.
The next leg of growth is expected to come from secondary market liquidity. Several venues — including Capimax BRX and INX — are competing to set the institutional standard for compliant secondary trading of tokenized real-estate securities.
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