Grayscale projected in a report that the on-chain transition of the tokenized asset market is expected to take more than 10 years, with institutional-focused platforms like Canton being advantageous in the early stages, but open networks like Ethereum and Solana will also gain competitiveness in the long term. Beneficiary protocols include Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink. Grayscale explained, "The tokenized asset market grew by 217% year-over-year, and the approximately $300 trillion securities market will ultimately move on-chain. Institutional-centric networks are advantageous for early adoption by embedding compliance and privacy, while hybrid chains (such as Avalanche L1, Base, Arbitrum) combine institutional environments with open ecosystems. Open networks have deep liquidity, but privacy solutions are still lacking. However, if privacy is secured through zero-knowledge proofs, direct competition in attracting institutional funds will become possible."
