The $400T Market That's Still Less Than 0.1% Tokenized [Part 1]

Every few years RWA tokenization gets reannounced before it arrives. Part 1 sizes the opportunity: $400T addressable across bonds, credit, real estate; less than 0.1% is onchain today. The structural shift is finally underway — this opening installment maps where the first meaningful volumes are likely to land (institutional-grade yields, T-bill-backed stablecoins, corporate credit).