The total value of tokenized traditional assets, excluding stablecoins, has surpassed $35 billion, according to data from rwa.xyz cited by a16z crypto. The figure is nearly three times the level recorded when the Genius Act was passed a year ago, with U.S. Treasury assets representing the largest share. The Clarity Act would provide regulatory support for the on-chain infrastructure underlying these assets, a16z crypto said. It added that the market’s continued growth will depend on the bill’s voting result next week.