Bank of America Predicts ‘Mutual Fund 3.0’ Revolution with RWA Tokenization

Bank of America (BAC) is signaling a significant shift in the financial industry through its prediction that real-world asset (RWA) tokenization will usher in a new era of investment products, dubbed ‘mutual fund 3.0’. A recent analyst report released on September 5, 2025, highlights this anticipated transition as traditional assets like stocks, bonds, and real estate move towards blockchain platforms. The report’s authors predict this wave of change will significantly alter how financial products are structured and operated.