SkyBridge Capital, led by Anthony Scaramucci, selects Tokeny for tokenizing a $300 million investment on Avalanche blockchain.
The real-world asset (RWA) tokenization market is experiencing rapid growth and increasing institutional adoption, with its total value reaching over $26.4 billion, excluding stablecoins [1]. This figure represents a more than doubling of the market size since August last year, according to data from the RWA tokenization tracking platform, RWA.xyz [1].
One of the latest entrants to the RWA tokenization market is SkyBridge Capital, the investment management firm founded by Anthony Scaramucci. According to Fortune's report, SkyBridge Capital has decided to tokenize a significant percentage of its assets under management [2].
SkyBridge will partner with the real-world asset tokenization platform Tokeny for the tokenization of its funds [2]. The tokenization will take place on the Avalanche blockchain, a move aimed at bringing activity from the traditional finance world and offering cost savings through tokenization [3]. John Wu, the president of Ava Labs, the developers behind the Avalanche network, stated that the goal is to show the world that this technology can benefit them in terms of cost savings [3].
Two separate funds will be tokenized by SkyBridge Capital. One of the funds specializes in assets that have not been deemed as securities by the U.S. Securities and Exchange Commission (SEC), such as Bitcoin [2]. The other tokenized fund is a fund of funds composed of SkyBridge's other investment vehicles, including both its venture and crypto funds [2]. The tokenized assets will represent about 10% of SkyBridge's total assets under management [2].
Anthony Scaramucci, the founder and CEO of SkyBridge Capital, sees 2026 to 2027 as the age of real-world tokenization [2]. He believes that the tokenization of SkyBridge's funds will be a significant step towards mainstream adoption of tokenized assets [2].
The total value of stablecoins is approaching $270 billion [1], further underlining the growing interest in digital assets. The signing into law of the GENIUS Act is expected to further drive the mainstream adoption of tokenized assets [4].
The growth of the RWA tokenization market is driven by several key factors. Institutional leadership and endorsement, regulatory frameworks, technological infrastructure, asset class diversification, market liquidity and efficiency improvements, and expanding total value locked (TVL) and project count are all contributing to the market's expansion [5].
Regulatory clarity and operationalizing legal frameworks in jurisdictions like the U.S., the EU, and Asia are making compliant issuance and cross-border activity feasible, fueling credible growth [5]. Major financial firms such as Goldman Sachs, BlackRock, BNY Mellon, Franklin Templeton, Citigroup, and Ripple are actively tokenizing assets, signaling regulatory alignment and market maturity [2][3].
Ethereum currently leads the on-chain RWA ecosystem, hosting over $7.5 billion in tokenized assets and commanding about 72% market share of tokenized Treasuries [4]. Innovations such as daily dividend payouts, programmable assets, and instantaneous settlement highlight the practical benefits attracting institutional capital [4].
As interoperability between banks and blockchains improves and technology platforms scale, the sector is positioned for a multi-trillion dollar expansion in the coming decade [5]. With over 200 active institutional projects and TVL around $65 billion in 2025 — an 8-fold increase since 2023 — the ecosystem is rapidly maturing in scale and complexity [2].
In summary, the real-world asset tokenization market has moved decisively from pilot phases into a scalable, execution-focused market by 2025. Regulatory clarity and institutional infrastructure are converging to drive mass adoption. As interoperability between banks and blockchains improves and technology platforms scale, the sector is positioned for a multi-trillion dollar expansion in the coming decade [1][5]. SkyBridge Capital's decision to tokenize a significant percentage of its assets under management is a testament to the growing interest and confidence in the RWA tokenization market.
[1] Data from RWA.xyz [2] Fortune's report [3] SkyBridge Capital press release [4] State of the On-Chain Real-World Asset Ecosystem Report 2025 [5] Tokenization Trends Research Report 2025-2033
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