Grayscale highlights tokenized equities as key blockchain adoption driver in finance
Grayscale Research just published what amounts to a roadmap for how every stock you own might eventually live on a blockchain. The firm’s July 9 report, “The Evolution of Tokenized Equities,” authored by Head of Research Zach Pandl, lays out a three-phase framework for how traditional equities are migrating on-chain.
The total value of tokenized assets currently sits at roughly $30 billion. That sounds like real money until you realize it represents approximately 0.01% of global equity and bond markets. The $300 trillion securities market, in other words, has barely been scratched.
Three flavors of tokenized stocks
Grayscale’s framework breaks the tokenization wave into three distinct models, each representing a different level of maturity and institutional trust.
The first and most common is the third-party wrapper model. Someone holds the actual equity, and a token representing it trades on-chain. This approach currently accounts for over 70% of tokenized stocks by market capitalization.
The second model involves regulated entitlement systems. The most notable example is the DTCC’s pilot program on the Canton Network. The DTCC clears virtually all US equity trades.
The third and most ambitious model is direct on-chain issuance, where companies skip the middlemen entirely and issue equity natively on a blockchain. Securitize has become the poster child here, becoming the first public company to tokenize its common stock alongside its NYSE listing.
Growth trajectory and the infrastructure gap
Grayscale’s earlier April 2026 report, “Investing in the Tokenization Megatrend,” pegged year-over-year growth in tokenized assets at 217%. Most of that expansion has been driven by US Treasuries.
Grayscale projects that tokenized assets could grow roughly 1,000x from current levels, potentially reaching around $30 trillion by 2030, contingent on regulatory progress and infrastructure development.
The blockchain networks handling this migration include Ethereum, Solana, BNB Chain, and Avalanche as key public blockchain infrastructure, alongside hybrid networks like Canton that cater specifically to institutional requirements around privacy and compliance.
Backed Finance has launched tokenized versions of Apple and Microsoft stock, available through platforms like Bybit and Kraken, with integration into Solana’s DeFi ecosystem.
Why 24/7 trading matters more than you think
One of the most practical advantages Grayscale highlights is continuous trading. Traditional stock markets operate roughly 6.5 hours per day, five days per week. Tokenized equities on public blockchains can theoretically trade around the clock.
Settlement on most blockchains happens in minutes or seconds, compared to the T+1 cycle that US equity markets only recently adopted.
What this means for investors
The 70% dominance of wrapper models tells you something important about where the market is today. Most tokenized equity exposure still carries intermediary risk, and most institutional capital hasn’t yet committed to native on-chain issuance.
Grayscale explicitly notes that robust regulatory clarity is essential for widespread adoption of tokenized assets in a $300 trillion securities market. The DTCC’s Canton Network experiment suggests regulators and incumbents are at least open to exploration, but the distance between a pilot program and full production deployment remains significant.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Three Giants Call for "Slowdown": AI Confidence Wavers, Oil Prices Break $100, Federal Reserve Rate Hike Imminent—U.S. Stocks May Face the Most Dangerous Week This Year
The Federal Reserve may raise interest rates, AI slowdown severely impacts chip stocks, Saudi pipeline attack drives up oil prices—this week, the US stock market faces a dual pressure test from inflation and risk appetite.
AI development slowdown combined with surging oil prices hit Japanese and Korean chip stocks first, SK Hynix falls more than 5%, SoftBank plunges 11%
AI giants have made a rare joint call to slow down the development of advanced models. The South Korean and Japanese stock markets have declined, with the Seoul Composite Index falling over 3% and the Nikkei 225 Index dropping more than 2%. SoftBank plunged 11% in a single day, while SK Hynix dropped over 5%. Meanwhile, Saudi Arabia has shut down oil pipelines, pushing Brent crude prices up to $107. Combined with the US CPI exceeding expectations, the probability of a Fed rate hike on Wednesday is now over 90%. The double whammy has led to a turbulent opening for Asian markets.
ASIC and optical interconnects drive high-speed growth! Bank of America strongly supports the soaring Marvell (MRVL.US), claiming there's still 55% upside potential
Bank of America maintains its $365 price target for Marvell, citing its focus on expanding revenue per AI system through custom AI accelerators (i.e., AI ASIC/XPU) and supporting optical interconnect chips, driven by massive demand for AI agents. Compared to the September 11 closing price of $236.10, this target implies a potential upside of approximately 54.6%.
Crypto prices
More
