---
title: "The Fastest Growing Market in Tech isn't AI"
description: "Tokenized real-world assets are compounding at 53% a month, more than twice as fast as Anthropic. Stocks \u0026 commodities now trade on blockchains 24/7, powered by Allium, which now runs Bloomberg's RWA terminal dashboard."
categories: ["crypto","AI","infrastructure"]
ai_summary: "Tokenized real-world assets are the fastest-growing market in tech, compounding at 53% a month versus 25% for Anthropic. Stocks \u0026 commodities trade on blockchains 24/7, IPO pricing happens weeks before listing, \u0026 Allium now powers Bloomberg's RWA terminal dashboard."
date: 2026-09-30
lastmod: 2026-10-02
canonical_url: https://tomtunguz.com/allium-bloomberg-rwa/
author: "Tomasz Tunguz"
---


The fastest growing market in the world isn't AI ; it's in crypto.

| Market            | Monthly growth, 20 months | Multiple |
| ----------------- | ------------------------: | -------: |
| RWA trades        |                       53% |   5,133x |
| RWA spot volume   |                       36% |     483x |
| Anthropic revenue |                       25% |      65x |

[^6]

Real world assets (RWA) means enabling stocks & commodities like oil & copper to trade on blockchains, handling nearly 100% of the public price discovery when the commodities exchanges close.

RWA powers IPO pricing weeks before public listing for Anthropic, OpenAI, SpaceX, & Cerebras,[^3] using instruments called perpetuals on stocks;[^4] & RWA provides international access to important companies.

Stablecoins, digital money, have become a top-10 buyer of US government debt, more than China, Norway, & Switzerland, & they settle the transactions behind each of these tokenized assets.

Every major financial player is pushing into RWA, from J.P. Morgan to HSBC to BlackRock, Citi, Goldman, Franklin Templeton, Robinhood,[^1] Stripe,[^7] & many others.

{{< email_image src="analysis/real-world-assets/charts-chart6-rwa-volume-growth-278232af079e" alt="Tokenized RWA spot volume grew 483x in 20 months" width="800" height="664" >}}

As this market grows, blockchain data is essential. Bloomberg announced their RWA dashboard, powered by Allium, a Theory company.[^5], [^2]

The future of finance is onchain, & we're rapidly seeing that transformation.

[^1]: [DTCC begins first tokenized stock and Treasury production trades](https://www.theblock.co/post/408419/dtcc-begins-first-tokenized-stock-and-treasury-production-trades-involving-jpmorgan-blackrock-and-goldman-wsj) (The Block, July 15 2026)

[^2]: [Bloomberg Launches Stablecoin Dashboard on the Terminal Powered by Data from Allium](https://www.prnewswire.com/news-releases/bloomberg-launches-stablecoin-dashboard-on-the-terminal-powered-by-data-from-allium-302894359.html) (PR Newswire, Sept 30 2026)

[^3]: [Hyperliquid: Pre-IPO Price Discovery on Crypto Rails](https://www.talos.com/insights/state-of-the-network-367) (Talos) : Cerebras pre-IPO perp traded within 1.3% of its Nasdaq open ; SpaceX perps carried ~$215m OI & ~$2.2b cumulative volume pre-listing.

[^4]: [Pantera Capital, State of Tokenization : September 2026](https://panteracapital.com/state-of-tokenization-september-2026-pdf/) : stock perpetuals on Hyperliquid & Lighter reached $67.8b in June, 16x tokenized equity spot.

[^5]: [Allium](https://allium.so)

[^6]: Compound monthly growth rate, trailing 20 months. RWA data from Allium `rwa.core.spot_trades` (Jan 2025 – Sep 2026); Anthropic revenue run rate from Reuters/Bloomberg/CNBC ($1b end-2024 to $65b July 2026).

[^7]: [Stripe's stablecoin network](https://stripe.dev/blog/extending-stripes-network-with-stablecoins) — Stripe acquired Bridge & now settles stablecoin payouts, including Meta creator payouts, onchain.