Tokenized Assets Face a Utility Test by 2030
Grayscale’s Head of Onchain Asset Management, Sebastian Pulido, says the tokenized real-world asset (RWA) sector will be judged less by the number of assets issued and more by their practical use by 2030. He points to reliable pricing, liquidity and acceptance as collateral as key measures of progress.
Onchain RWAs reached $39.3 billion in late October 2026, up more than 80% since January, with major issuers including BlackRock and Apollo contributing to growth. Some tokenized money-market funds are already accepted as margin, allowing traders to use fund shares as collateral while retaining their yield.
Pulido expects stablecoin settlement and improved trading and collateral systems to support broader adoption. Over the longer term, he sees more assets being issued natively onchain, with transparent, frequently updated data informing credit assessments. For traders, the key indicators will be whether tokenized assets gain deeper liquidity, reliable pricing and wider acceptance by exchanges and lenders—not just whether the tokenized asset market grows.
Neutral
The news is neutral for crypto markets in the short term. Pulido’s comments are a forecast about how tokenized real-world assets may be assessed by 2030, not an immediate product launch, regulatory change or shift in market flows. The article gives no new trading data or catalyst likely to move major crypto prices directly.
The longer-term implications are cautiously positive for tokenization infrastructure. If exchanges and lenders accept more tokenized assets as collateral, and pricing, redemption and settlement become dependable, those assets could be used more actively in trading and lending. This could support demand for onchain financial services and stablecoin settlement. The current $39.3 billion RWA market and its reported growth provide context, but size alone does not demonstrate deep liquidity or broad utility.
The article’s example of tokenized money-market funds used as margin illustrates a potential benefit: traders may earn yield while putting fund shares to work as collateral. Similar tokenization developments have often attracted institutional attention, but adoption depends on operational reliability, liquidity and confidence in redemption. Traders are therefore more likely to watch actual collateral acceptance, trading volumes and settlement activity than respond to the forecast itself. Wider adoption could be supportive over time, while failures in pricing, redemption or market liquidity could limit confidence and increase risk.