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U.S. asset manager Grayscale Investments released its report “Digital Assets Outlook 2026” on the 15th, projecting a dramatic expansion in the tokenized real-world asset (RWA) market over the coming years.
Tokenized assets today make up only ~0.01% of global equities + bond market value.
Grayscale believes asset tokenization could grow 100× from here.
This isn’t hype — it’s structural.
Traditional assets (real estate, bonds, equities, derivatives, land) are:
• Large but… pic.twitter.com/VuQ5Y3lzaz— Tapbit (@Tapbitglobal) December 22, 2025
According to the report, tokenized assets currently account for just 0.01% of the global equity and bond market capitalization. However, Grayscale estimates that this share could increase by approximately 1,000 times by 2030, driven by advances in blockchain technology and a rapidly evolving regulatory environment.
Regulatory Shifts and Market Maturation Drive Growth
Grayscale attributes much of this projected growth to significant changes in the regulatory landscape, particularly in the United States. The firm notes that U.S. regulators have shifted toward a more collaborative approach in recent years, providing clearer guidance to the industry while strengthening consumer protection.
A key turning point cited in the report was Grayscale’s legal victory against the U.S. Securities and Exchange Commission (SEC) in 2023, which helped pave the way for spot crypto exchange-traded products (ETPs).
Momentum continued in 2024 with the launch of spot Bitcoin (BTC) and Ethereum (ETH) ETPs, followed by the passage of the GENIUS Act, a comprehensive stablecoin regulatory framework, in 2025.
As a result, stablecoin adoption has accelerated sharply. Grayscale reports that stablecoin circulating supply has increased by 16%, surpassing USD 290 billion, underscoring growing institutional and retail usage.
Blockchains and Tokens Poised to Benefit
Grayscale identifies smart contract platforms as primary beneficiaries of the tokenization boom. Leading networks highlighted in the report include Ethereum, Tron, and Avalanche, which are expected to host a growing share of tokenized financial instruments.
The report also emphasizes the strategic importance of Chainlink (LINK) as critical infrastructure connecting traditional finance with blockchain-based systems. Chainlink’s oracle technology is described as a core component across many tokenization use cases.
Meanwhile, Solana (SOL) is recognized as the current category leader, supported by its diverse on-chain activity, expanding user base, and high transaction volumes.
Expanding Market Access Through ETPs
Grayscale also points to regulatory progress on market access. The SEC has approved listing standards for commodity-based ETPs, a move expected to significantly broaden the range of digital assets available to U.S. investors.
As tokenization gains traction across equities, bonds, and other real-world assets, Grayscale believes the convergence of regulation, infrastructure, and investor demand could reshape global capital markets over the next decade.
