Grayscale Research named Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink as the top platforms riding the tokenization wave. Tokenized assets crossed $30 billion this year, up 217% from 2025. The jump puts tokenization squarely in mainstream finance conversations.
Who Made the Cut
Grayscale didn’t rank them but listed these six as key beneficiaries. They’re handling most tokenized asset deals, from real-world bonds to digital equities. The selection mixes old-timers like Ethereum with newer networks like Canton. No one knows why Solana and Avalanche ranked equally high. The report skipped exact usage numbers for each chain.
The Growth Number
That $30 billion mark was unimaginable 18 months ago. A 217% year-over-year gain means the market tripled in size since 2025. Last year’s tally was just $9.5 billion by comparison. Most growth came from institutional players, not retail traders. The pace slowed slightly in March but remains hot. Real-world assets like Treasuries now dominate new tokenization deals.
What’s Missing
Grayscale didn’t explain why these chains won out. No data on which assets moved where—bonds? Stocks? Real estate? The firm also didn’t say who’s building the infrastructure. That gap matters because outages happened last month. The report treats tokenization like it’s all smooth sailing. It’s not. Some platforms still struggle with settlement times. Others face liquidity hiccups during high demand. The rush to tokenize everything hasn’t fixed basic reliability issues yet.
Where It Goes Next
Watch for more tokenized ETFs this summer. The SEC’s final stance on spot ETH ETFs could trigger another wave. Grayscale’s next update will likely track whether these six chains keep their hold. If the growth continues at this rate, $50 billion could come by early 2027. But infrastructure failures might slow adoption if they persist.
