$2T Morgan Stanley Predicts Tokenized Asset Market to Hit $10T by 2030

Morgan Stanley expects the tokenized real-world asset (RWA) market to reach between $3 trillion and $10 trillion by 2030. Amy Oldenburg, the bank’s head of digital asset strategy, expressed confidence in the forecast during an interview at TOKEN2049. The prediction comes as the Wall Street banking giant prepares to expand its blockchain-based financial services.

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Morgan Stanley Expects Tokenized Assets to Reach $10 Trillion by 2030

Over the next few years, Oldenburg believes institutional adoption will be the key growth driver for tokenized financial assets. She stated that the market would hit the estimated $3 trillion – $10 trillion by 2030. When asked about the forecast, she responded, “We’ll definitely be within that range without question.”

Current market figures are, however, still well short of what the bank executive had expected. As of October 12, tokenized real-world assets amounted to around $39.19 billion, according to RWA.xyz. If the market expands to its high forecast of $10 trillion, it must grow by nearly 255 times.

Oldenburg pinpointed private shares, structured notes, and investment funds as potential tokenization spaces. These products require a complex administrative process, whereas blockchain might streamline asset ownership and transfers. Financial institutions are also beginning to look at tokenized securities as collateral for lending and trading.

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Morgan Stanley Puts Off Tokenized Stock Trading Until 2027

Even though it has a long-term market outlook, Morgan Stanley has adjusted its timeline on its support for tokenized equities. The bank now plans to launch support via its alternative trading system (ATS) in the first quarter of 2027. It had previously set a goal of the second half of 2026.

Limited product availability continues to pose a challenge to institutional participation, Oldenburg said. She said, “We must have product to be able to support them in the ATS.” The executive further stated that customers’ demand is still limited due to lack of availability of suitable products.

Meanwhile, other blockchain platforms keep increasing the number of stocks and exchange-traded funds (ETFs) available in token form. Recently, xStocks has expanded access to traditional financial instruments to the blockchain through more than 1,100 tokenized equities. Morgan Stanley is building its own system for supporting similar assets in regulated trading systems.

DTCC Tokenization Launch Supports Wall Street Expansion

Morgan Stanley is also monitoring the Depository Trust & Clearing Corporation’s planned tokenization service launch in October 2026. The infrastructure would allow eligible securities to receive blockchain-based representations while remaining within established custody arrangements.

Institutional participation has already expanded through DTCC’s digital assets working group, which includes major financial institutions. Its work covers tokenized securities, settlement processes, and standards for blockchain-based financial transactions.

Separately, Morgan Stanley is developing proprietary digital wallets and testing blockchain applications through its Digital Asset Lab. The bank also received conditional regulatory approval for a digital asset trust in June. These developments form part of its preparations for institutional tokenized asset services.