The global stock market frenzy in 2025 is indeed fierce. The MSCI index surged 21%, marking its best performance since 2017, and Asian markets have been rising for the third consecutive year. The driving forces behind this are clear: the explosion of the AI industry and the dual boost of loose monetary policies in various countries, coupled with the market rally following the April tariff wave, which has significantly restored investor sentiment.

However, beneath the prosperity, there are hidden risks. The current valuation levels of the stock market are already at historic highs, and many are beginning to wonder whether it can continue to rise in 2026. The answer to this question largely depends on whether the Federal Reserve will maintain its relatively moderate policy stance.

In an environment of high valuations, smart capital naturally looks for hedging tools. This is when RWA (Real-World Asset Tokenization) begins to attract attention. The logic behind these assets is quite simple: using blockchain technology to tokenize real assets, allowing investors to enjoy the liquidity benefits of on-chain trading while having tangible asset backing. This can effectively hedge against the risks of traditional stock market bubbles.

What does this mean for the crypto space? The resurgence of risk appetite in the stock market provides an opportunity for capital to flow out into digital assets. When the AI bubble starts to enter its performance realization phase, capital is likely to shift toward sectors with solid fundamentals. RWA is such a sector—it’s not just hype, but backed by real assets.

Therefore, the key is to closely monitor two aspects: first, the actual progress of RWA asset tokenization implementation; second, the latest strategic moves by institutions. These are important references for judging the direction of the sector in 2026.