SKN | Grant Cardone Eyes $5 Billion Real Estate Tokenization in Major Real-World Asset Push

Grant Cardone plans to tokenize his firm’s $5 billion real estate portfolio, marking one of the most ambitious real-world asset (RWA) initiatives led by a U.S. property operator. The move comes as tokenized real-world assets surpass $3.5 billion in on-chain value, according to blockchain analytics providers, reflecting accelerating institutional interest in digitizing traditional yield-generating assets.

With Bitcoin trading near $60,000 and institutional flows into spot ETFs moderating from peak levels earlier this year, attention is increasingly shifting toward tokenization as the next structural growth theme within digital markets.

Market Context and RWA Expansion

Tokenized U.S. Treasuries alone now account for more than $1.5 billion of on-chain assets, while private credit and real estate tokenization platforms have reported year-over-year growth exceeding 40%. Cardone’s initiative would significantly expand the scale of tokenized property exposure, potentially introducing fractionalized access to a portfolio spanning multifamily and income-producing assets.

For crypto markets, the development reinforces the narrative that yield-bearing RWAs may provide stability during periods of price consolidation. Unlike purely speculative tokens, income-generating real estate assets offer structured cash flow characteristics, potentially appealing to investors seeking diversification beyond volatile digital-native assets.

Regulatory and Structural Considerations

Tokenizing a $5 billion portfolio will require compliance with U.S. securities regulations, likely involving structured offerings under exemptions such as Regulation D or Regulation A+. Regulatory clarity remains uneven, particularly regarding secondary market trading and cross-border investor participation.

Blockchain infrastructure providers increasingly support compliant token issuance with embedded know-your-customer (KYC) and transfer restrictions. Settlement efficiencies—often enabling near T+0 clearing—contrast with traditional private real estate structures that may take weeks to process transactions. However, liquidity in secondary markets remains limited, with most tokenized real estate trading volumes still below $10 million monthly across major platforms.

Investor Sentiment and Strategic Implications

From a behavioral perspective, fractional ownership lowers capital barriers and can reshape investor psychology. Retail and semi-institutional participants may perceive tokenization as democratizing access to large-scale property portfolios traditionally reserved for accredited investors or private equity funds.

Institutional allocators, however, will focus on governance, asset servicing, and valuation transparency. Real estate cap rates in key U.S. multifamily markets currently range between 5% and 6.5%, depending on geography and leverage structures. The extent to which tokenization enhances liquidity without compressing yield expectations will determine long-term viability.

Strategically, Cardone’s plan signals that high-profile operators view blockchain rails not as a speculative overlay but as a capital formation mechanism capable of expanding investor reach and optimizing distribution channels.

Looking ahead, the success of this $5 billion tokenization initiative will hinge on regulatory execution, investor appetite, and the development of deeper secondary liquidity. If adoption scales and transactional friction declines, large-scale property tokenization could accelerate the integration of digital asset infrastructure into mainstream real estate finance. Conversely, limited liquidity or regulatory constraints may temper expectations, shaping how institutions assess real-world asset tokenization strategies in evolving market cycles.