💧 **Electric Capital: 501 Sources of Real-World Yield — What Gets Tokenized Next**
Electric Capital mapped 501 real-world yield sources across 15 categories and found 93% have no meaningful on-chain presence yet, with the 34 that do concentrated in Treasuries, private credit, and corporate bonds. Holder concentration is stark: of 35 yield-bearing non-stablecoin RWAs above $50 million, only two have crossed 2,000 holders, and BlackRock's BUIDL has its top 10 holders controlling 98% of supply.

**Why it matters:** The bulk of the RWA opportunity remains untapped, but current distribution runs through a small set of large deployers and vault curators rather than a broad holder base.
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