RWA futures volume surged 142 fold in nine months to $107.6 billion in July, roughly matching crypto futures at $105.7 billion.Open interest in RWA contracts climbed 167 fold to $1.72 billion, while crypto futures open interest fell to $7.1 billion.Equity contracts accounted for 83% of RWA open interest, while commodity trading responded sharply to moves in oil and silver.Pre IPO contracts for companies including SpaceX and Cerebras drew substantial trading activity around their public listings.