The on-chain RWA market just crossed $34B. Not meme flows. Not retail speculation. Real assets: — tokenized Treasuries — private credit — tokenized commodities — institutional settlement infrastructure What stands out: BlackRock’s BUIDL fund keeps expanding. Tokenized gold keeps growing. Private credit keeps moving on-chain. The important shift is not the number itself. It’s that major financial institutions are increasingly treating blockchain rails as financial infrastructure instead of experimental technology. And at the center of the macro digital asset conversation remains Bitcoin — the reserve asset benchmark the entire sector still prices around. The capital layer is slowly moving on-chain. #BTC #Bitcoin #RWA #Crypto