Citi Projects $5.5T Tokenized Securities Market by 2030
In its Tokenization 2030: Wall Street On-Chain report, Citi forecasts the tokenized securities market will grow from $17 billion today to $5.5 trillion by 2030. The bank provides a base case of $5.5T, with a lower bound of $2.7 trillion and an upper bound of $8.2 trillion, depending on adoption velocity. This projection covers Treasury bills, stocks, funds, and other financial products moving onto blockchain rails.
Key Forecast Metrics
- Tokenized U.S. Treasury Bills: Citi expects 10% of the U.S. Treasury bill market to be tokenized by 2030. Stablecoin growth alone may create $1 trillion in new demand for U.S. Treasuries.
- Tokenized U.S. Public Stocks: The bank projects 3% of the U.S. stock market will be tokenized. A 10% shift by everyday U.S. investors to digital trading platforms could generate $2.6 trillion in demand for digital stocks.
- Current RWA Market: Tokenized real-world assets (excluding stablecoins) currently stand between $31 billion and $34 billion, according to recent estimates. Tokenized Treasuries remain the largest RWA category, with Ethereum (ETH) hosting a significant share.
Wall Street’s Blockchain On-Ramp
Citi’s forecast adds to a growing wave of institutional tokenization projections. Standard Chartered recently estimated tokenized assets could reach $4 trillion by the end of 2028, split between stablecoins and real-world assets. Citi’s longer 2030 target places tokenized securities at the center of Wall Street’s digital asset strategy.
Stablecoins serve as the settlement layer for tokenized securities, enabling always-on finance and faster trade execution. Ryan Rugg, Citi’s global head of digital assets for Treasury and Trade Solutions, stated that “Tokenization is reshaping financial services.” However, compliance, custody, and legal ownership remain critical hurdles.
Market Implications: Crypto and TradFi Convergence
This forecast has direct implications for crypto markets. Bitcoin (BTC), currently trading at $72,706, benefits as a macro hedge and potential collateral in tokenized markets. Ethereum (ETH) at $1,977.86 remains the dominant smart contract platform for tokenization projects. Stablecoin issuers like Tether and Circle are key beneficiaries, as their reserves fuel Treasury demand.
Tokenization also pressures traditional finance to adapt: stocks and bonds on-chain could disrupt custody, settlement, and trading hours. If even a fraction of the $1.2 trillion global securities market migrates, blockchain infrastructure providers (e.g., Chainlink LINK at $8.97) and layer-1 networks will see exponential demand.
Investor Takeaway
Bullish long-term for tokenization-related crypto assets (ETH, LINK, SOL) and stablecoins. Short-term volatility expected as regulatory frameworks evolve. Citi’s base case of $5.5T is a strong catalyst for institutional adoption.
