{"paper":{"title":"Tokenized but Illiquid? Evidence from Real-World Asset Markets","license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","headline":"","cross_cats":["q-fin.CP"],"primary_cat":"cs.CE","authors_text":"Rischan Mafrur","submitted_at":"2026-05-31T10:05:25Z","abstract_excerpt":"Real-world asset tokenization is often presented as a mechanism for improving the liquidity of traditionally illiquid assets. However, on-chain representation and secondary-market liquidity are distinct outcomes. This paper examines whether tokenized real-world assets exhibit meaningful observed liquidity and identifies the token characteristics associated with higher market activity. Using token-level data from RWA.xyz and supplemental contract-level observations from Etherscan, the study constructs an Ethereum-based monthly panel of non-stablecoin real-world assets across three prominent cat"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2606.01131","kind":"arxiv","version":1},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2606.01131/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"}