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Grayscale Research said Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink are positioned to benefit as tokenized assets expand. The firm estimated tokenized assets at about $30 billion, up 217% year-over-year.
In an April 29 analysis, Grayscale Research outlined blockchain networks it views as central to tokenized markets. The firm described these networks as core infrastructure for a potential shift in capital markets, where assets are issued, transferred, and settled on blockchain systems.
“We believe the tokenization megatrend represents a huge potential investment opportunity … Over time, we believe much of the ~$300 trillion securities market — along with other types of assets like real estate — will migrate onchain,” Grayscale wrote.
Grayscale said tokenized assets remain small relative to traditional markets, but growth has accelerated. The analysis estimates tokenized assets at about $30 billion, or 0.01% of global equity and bond markets, compared with roughly $300 trillion in traditional securities. It also said the market has expanded 217% year-over-year.
Grayscale attributed much of the expansion to tokenized U.S. Treasuries at about $15 billion and commodities near $5 billion.
Grayscale Research said: “We believe the protocols best positioned to benefit from the tokenization megatrend include Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink.”
Each protocol, the firm said, plays a different role in the tokenization stack:
Grayscale’s analysis frames tokenization as an investment opportunity tied to the migration of securities and other assets onto blockchain infrastructure. While tokenized assets are still a small share of overall capital markets, the firm highlighted rapid growth and concentration in tokenized U.S. Treasuries and commodities.
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