I wish crypto did a better job of delineating tokens who give you a real world claim vs. not. Crudely, ETH is a digital coin you put in the machine for it to run your instructions, gov tokens are mostly ballots that allow you to direct a stream of other virtual coins. Big simplification, but diff than a claim on RWAs.

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I think the difference between a digital token/currency and RWA is not so clear. Most "RWA" like stocks, gold, cash etc. are all virtual now anyway

My point is that ETH is like those though. Store of value (gold) -> most gold is paper/virtual anyway. Liquid and fungible like cash + has stable cash flows like a bond or annuity. So what is "real world" anymore?

That's basically what I'm saying: ETH and "native crypto tokens" are unlike those, because they don't tie back to any real-world thing, like a stock (company cashflows), gold (metal) or cash (?) does.