Tokenized RWAs Boom, Kraken SpaceX IPO & SBF Pardon Bid | Crypto Biz

Crypto Insight Summary: Crypto prices have spent much of the year reacting to macro headlines and regulatory uncertainty, but tokenization has remained one of the industry’s few consistent growth stories. Active real-world assets are surging, banks are embracing blockchain infrastructure and tokenized equities are expanding into new markets. That momentum was on full display this week as Kraken rolled out tokenized access to the highly anticipated SpaceX IPO, offering eligible users in more than 110 markets a chance to participate through xStocks. Elsewhere, prediction markets surpassed onchain gambling for the first time, and former FTX CEO Sam Bankman-Fried formally asked US President Donald Trump for a pardon. Tokenized RWAs [continue to gain traction](https://cointelegraph.com/news/tokenized-rwas-stocks-gold-real-estate-institutional-adoption-binance) despite a weaker crypto market. According to Binance Research, the market for active tokenized RWAs has surged 589% since early 2025, with bonds and money market funds adding $6.5 billion in value while tokenized stocks jumped 422%. The sector is also becoming more diversified. According to Kraken, investors who received an allocation will be issued SPCXx, a tokenized representation backed 1:1 by the underlying equity and tradable 24/7 across participating platforms. [Prediction markets surpassed onchain gambling](https://cointelegraph.com/news/onchain-gambling-market-pullback-trm-labs) for the first time in the first quarter of 2026, generating $36.6 billion in volume compared with gambling’s $14 billion, according to blockchain intelligence firm TRM Labs. The milestone comes after both sectors topped $50 billion in annual volume in 2025, underscoring their rapid growth. Crypto Insight Analysis: Direction: Bullish RWA / Neutral BTC / Neutral ETH Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Tokenized RWAs show strong growth, but broader market impact remains limited due to niche adoption.