Glassnode: Bitcoin saw $732 billion in new funding in Q4; Bitcoin and stablecoins still dominate on-chain settlements.

 glassnode and Fasanara Digital jointly released the "Q4 Digital Asset Report," stating that the scale of new Bitcoin funds in Q4 reached 732 billion USD, and the one-year realized volatility has nearly halved. The current market trading is becoming more stable, the scale continues to expand, and institutional participation has significantly increased.

In the past 90 days, the total Bitcoin settlement amount was about 6.9 trillion USD, comparable to or higher than Visa and Mastercard. As funds flow into ETFs and brokers, trading activity is gradually migrating off-chain, but Bitcoin and stablecoins still dominate the on-chain settlement field.

The scale of tokenized real-world assets (Tokenized RWAs) increased from 7 billion USD to 24 billion USD within a year, ushering in the strongest growth phase of institutional adoption. Tokenized funds are one of the fastest-growing segments in 2025, providing asset management institutions with new distribution channels while offering previously underserved investors the opportunity to participate.