RWA Weekly Report｜Trump Signs GENIUS Act; US House of Representatives Unanimously Passes Three Crypto Bills (7.16-7.22)

Odaily星球日报 2025年07月22日 14:40

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Original | Odaily Planet Daily (@OdailyChina)

Author | Ethan (@ethanzhang_web3)

RWA Weekly Report｜Trump signs the GENIUS Act; US House of Representatives passes three crypto bills (7.16-7.22)

RWA Sector Market Performance

According to the latest data from RWA.xyz, as of July 22, 2025, the total on-chain value of RWA is $25.49 billion, slightly adjusted by $0.02 billion compared to $25.51 billion on July 15, with a weekly decline of 0.08%, maintaining a high-level sideways trend overall. Despite a slight decrease in market capitalization, the on-chain ecosystem activity continues to rise, with the total number of asset holders increasing from 310,566 to 319,480, a weekly increase of over 9,000 people, a growth of 2.88%. The number of asset issuers increased from 251 to 256, adding 5 in a week, showing steady growth.In terms of stablecoins, the total value of stablecoins grew from $243.73 billion to $247.72 billion, an increase of 1.64%; the number of holders rose from 171.60 million to 172.94 million, an increase of 0.78%.

From the asset structure perspective, private credit rose again this week, from $14.9 billion to $15.2 billion, a weekly increase of $0.3 billion, continuing to play a central role in on-chain asset allocation. US Treasury bonds saw a slight withdrawal, dropping from $7.5 billion to $7.0 billion, possibly affected by factors such as adjustments in short-term interest rate expectations. Commodity assets rose to $1.7 billion, marking the first increase in three consecutive weeks, as the market renewed its focus on inflation hedging or bulk assets. Institutional alternative funds increased to $770.7 million, a weekly increase of over $70 million, indicating a growing demand for diversified allocation among institutions.

Trends (Compared to Last Week)

This week, the RWA market overall continued the trend of "high-level sideways adjustment and structural restructuring." The number of on-chain users and asset issuers continued to climb, with the ecosystem expansion trend unabated. Although the total market capitalization saw a slight adjustment, it did not affect the market's participation enthusiasm.Structurally, funds continued to flow back into private credit and alternative assets, with investors remaining optimistic about high-yield assets, showing stable allocation confidence. US Treasury bond assets, however, saw phased reductions, with market risk aversion sentiment easing, possibly forming new judgments on future interest rate paths.Alternative assets performed notably, growing by over 10% this week. The diversified allocation of structural assets is no longer limited to traditional credit or bond logic, as institutional funds are increasingly accepting non-standard varieties that offer both stable returns and risk control capabilities.

Overall, in late July 2025, the RWA market is in a phase of "structural consolidation and accelerated differentiation," with the asset side structure continuously moving towards diversification and high quality. Although the total market capitalization has not shown a breakthrough, the on-chain user base and protocol-side expansion provide strong support. It is expected that there will still be significant room for structural upgrades and innovation releases in the future. Investors are advised to maintain high attention to on-chain credit assets and non-standard products, keeping allocation flexibility and judgment in a dynamic market.

RWA Weekly Report｜Trump signs the GENIUS Act; US House of Representatives passes three crypto bills (7.16-7.22)