Citi Projects $5.5T Tokenized Market by 2030 as Wall Street Moves Onchain

In its Tokenization 2030: Wall Street On-Chain report, the bank estimated that tokenized securities and real-world assets currently represent about $17 billion in value. Its base case projects that figure will rise to $5.5 trillion globally by 2030.

The forecast comes with a wide range. Citi’s lower estimate is $2.7 trillion, while its high-end scenario reaches $8.2 trillion. The outcome will depend on how quickly institutions, regulators, and market infrastructure providers adopt tokenized systems.

The estimate covers assets such as Treasury bills, public stocks, funds, and other financial instruments that can be issued, represented, or transferred onchain.

Citi’s report adds to a growing view on Wall Street that tokenization could improve market plumbing. Supporters say blockchain-based rails may shorten settlement times, extend trading hours, and make certain assets easier to access.

Stocks are another major part of the bank’s outlook. Citi expects about 3% of the U.S. public equity market to move into tokenized form by 2030.

The bank said a 10% shift by everyday U.S. investors toward digital trading platforms could generate $2.6 trillion in demand for digital stocks. That would mark a clear expansion beyond crypto-native assets and into core public markets.