- Morgan Stanley projects the tokenized RWA market to be between $3T and $10T by 2030.
- The company itself says it expects to support tokenized equities in Q1 2027.
- Ethereum could benefit most due to its established ecosystem, liquidity, and tools.
Morgan Stanley’s head of digital asset strategy, Amy Oldenburg, expects the tokenized real-world asset (RWA) market to hit somewhere between $3 trillion and $10 trillion by 2030.
Her forecast points to a clear trend, where big financial institutions are increasingly eager to trade and manage RWAs. Morgan Stanley itself says it expects to support tokenized equities in Q1 2027.
If Oldenburg’s projection turns out to be true, a few crypto projects could benefit. Namely, Ethereum would be a top candidate because it already has a well-developed tokenization ecosystem. Additionally, it has deep stablecoin liquidity and reliable tools built for large institutional investors.
Similarly, Chainlink may benefit too, as it offers oracle services and cross-chain tools that help connect tokenized assets to outside data and other blockchains.
Other networks like Solana, BNB Chain, and XRP Ledger may see gains as well, if issuers pick them for specific use cases. The actual outcome will likely depend on transaction costs, regulatory requirements, privacy, interoperability, and the capacity to integrate with existing financial systems.
RWA Market Growth May Not Automatically Drive Token Prices
Given Morgan Stanley’s prediction, a growing RWA market could power the next crypto rally by bringing more activity onto blockchains and attracting institutional capital. However, just because adoption grows doesn’t mean token prices will automatically rise.
A bank can issue assets on a blockchain without needing to hold large amounts of its native cryptocurrency. Even if the network handles more transactions, demand for the token might stay small, especially if fees are cheap or stablecoins are used to settle.
As such, investors should look for signs of real use, including rising tokenized asset values, steady transaction volume, active institutional issuers, ongoing settlement demand, and solid reasons why a network’s native token would be used or held.
It is also worth keeping in mind that infrastructure service providers may capture value differently than the actual blockchains where the assets live.
In the end, clearer rules could help adoption move faster, but there are still some big hurdles in the way.
Before tokenized assets can really take off across markets and Morgan Stanley’s prediction comes true, several things need sorting out. This includes liquidity, interoperability, investor safeguards, and legal ownership. Early this year, the SEC made clear that putting a security on a blockchain doesn’t change what it legally is.
Related: Which Top RWA Tokens Have the Most Real-World Use in 2026?
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