Tokenization of Real-World Assets: Capital Formation Prevails Over Liquidity, Survey Finds
Brickken runs a survey. This survey shows many issuers choose tokenization to raise funds before they seek market liquidity. Issuers turn regular assets into digital tokens. The tokens join old finance with new, decentralized markets.
Capital Formation at the Core
Brickken’s survey for the last quarter of 2025 shows 53.8% of respondents favor capital formation above all. Only 15.4% list liquidity as their main target. Thirty-eight point four percent of issuers say they do not need liquidity now, while 46.2% expect liquid markets to form within six to 12 months.
Jordi Esturi, Brickken’s marketing chief, explains that issuers use tokens to build capital, widen investor reach, and cut business costs. Issuers create compliant tokens first, with liquid markets to come later.
Rules Slow Down Growth
Survey results show 84.6% of issuers face legal challenges. More than half (53.8%) say the law slows their work. Only 13% point to technical problems.
Alvaro Garrido, from Legal Node, states that rules matter from the start. Issuers set up legal plans early. They expect laws to match each project and its digital system as tokens grow.
Merging Classic and New Finance
The tech for issuing tokens acts as a bridge between old finance and decentralized networks. Patrick Hennes of DZ PRIVATBANK explains that the task is to change legal rules and investor safety into a digital form.
Different asset types use tokens today. Just 10.7% of tokens come from property. Equity shares make up 28.6%, while creative and media assets reach 17.9%. Other sectors join, such as tech, lending, energy, banking, carbon assets, space projects, and travel.
This mix of tokens shows new ways to tap into existing asset classes and find extra value.
24/7 Trading Comes into View
While many issuers focus on raising capital, some major U.S. exchanges plan all-day trading for tokens. The CME Group aims to start 24/7 trading for crypto by May 29, 2026. The New York Stock Exchange and Nasdaq plan to support constant trading for token shares.
Jordi Esturi sees these steps as a slow shift. Exchanges want to grow trades and profit as the token theory grows in use.
Balancing Optional and Long-Term Liquidity
The survey shows that some issuers do not require liquid markets right away. Still, liquidity is seen as a needed result over time. Esturi says liquidity must grow with token sales and bigger investor interest rather than come too early.
Ian de Bode from Ondo expects stocks and funds to bring strong market depth. He adds that if old finance moves to all-day trading, many current limits will ease.
Building the Future of Asset Trading
Token use now plays a new role. Issuers use tokens mainly to raise funds and cut operating costs under legal rules. Liquidity grows as tokens gain trust.
New rules and developing systems support steady change. With exchanges backing token systems and many asset types testing digital tokens, token use may change how traditional assets are traded and owned. The mix of rule changes, digital systems, and market needs will decide when tokens shift from trials to daily use.
This report sums up token use today, based on Brickken’s Q4 2025 survey and insights from industry leaders. It marks a clear step in the merge of traditional finance with digital markets.
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📝 About This Article
This article was generated by Hivebox AI in collaboration with nGRND.
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