Elliptic, the blockchain analytics company known for helping institutions stay on the right side of crypto compliance, has struck a partnership with CoinGecko to improve pricing data for crypto assets. The particular focus: tokenized real-world assets, or RWAs, the category that’s been quietly becoming one of crypto’s most consequential growth stories.
Why pricing RWAs is harder than it looks
Pricing a token that represents, say, a fraction of a US Treasury bond or a piece of commercial real estate isn’t the same as pricing Bitcoin. Bitcoin trades 24/7 on hundreds of exchanges with deep liquidity. A tokenized apartment building in Miami does not.
The RWA sector reached $13.5 billion by the end of 2024 and is projected to grow into the trillions by 2030. Those numbers explain why two of the industry’s more established players would prioritize getting valuation right.
CoinGecko, as one of crypto’s leading independent data aggregators, already tracks thousands of tokens and provides pricing analytics to millions of users. Elliptic, meanwhile, serves over 700 customers across 30 countries and reviews more than one billion transactions every week.
Elliptic’s bigger picture
Elliptic closed a $120 million Series D funding round on May 12, 2026, led by One Peak, which valued the company at $670 million. The investor list included Nasdaq Ventures and Deutsche Bank.
What this means for investors
For institutional investors who have been circling the RWA space, better pricing data directly reduces one of the key barriers to entry. Portfolio managers need to mark positions to market. Risk teams need defensible valuations. Auditors need data trails. None of that works if the price you’re looking at is stale, manipulated, or derived from thin liquidity pools.
For traders operating in the RWA space, the immediate benefit is more transparent pricing. Better data means tighter spreads, more efficient markets, and fewer nasty surprises when an asset turns out to be worth significantly less than its listed price suggested.