Grayscale Identifies Six Blockchain Protocols for Tokenization Growth

Grayscale Research has released a report highlighting the growing trend of tokenization in global capital markets. According to the firm, tokenized assets currently total around $30 billion, representing only a small share of the roughly $300 trillion global securities market.

The researchers noted that much of the securities market could eventually shift to blockchain infrastructure, with Grayscale framing tokenization as a structural change in capital markets. The firm emphasized that this shift is still in its early stages, with only 0.01 percent of equities and bonds currently existing on-chain.

Grayscale identified six key blockchain protocols that are expected to benefit from the growth of tokenization: Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink. These networks were chosen for their strong ecosystem activity, institutional focus, and built-in privacy features, which align with traditional finance requirements.

The report highlighted Canton as the dominant network in tokenized assets, holding around $390 billion in value due to its institutional focus and privacy features. Ethereum followed closely, with roughly $16 billion in tokenized assets and a strong ecosystem activity.