Morgan Stanley Sees $10T Tokenized Future — From $39B Today, Brb Building 255x 🧱

Morgan Stanley projects the tokenized real-world asset market will reach between $3 trillion and $10 trillion by 2030, according to Amy Oldenburg, the bank's head of digital asset strategy. Oldenburg delivered the forecast in an interview at TOKEN2049, stating, "We'll definitely be within that range without question." The projection frames tokenization as a central pillar of the Wall Street bank's emerging digital asset strategy.

The current scale of the market sits far below either end of that range. As of October 12, tokenized real-world assets totaled approximately $39.19 billion, according to RWA.xyz. Reaching the high-end $10 trillion forecast would require roughly 255-fold growth over the next five years. Oldenburg identified private shares, structured notes, and investment funds as the segments most likely to drive expansion, noting that blockchain rails can streamline ownership records and transfers for instruments that today depend on complex administrative processes.

Financial institutions are also evaluating tokenized securities as collateral for lending and trading activity, according to Oldenburg. Morgan Stanley, which oversees roughly $2 trillion in client assets, is positioning itself inside that shift. Oldenburg said institutional participation, rather than retail demand, will determine whether the market lands closer to the $3 trillion floor or the $10 trillion ceiling of the bank's forecast.

Separately, Morgan Stanley has delayed the launch of its tokenized stock trading service to the first quarter of 2027 as it builds out supporting infrastructure. The timeline extends a project that had been tracked as one of the more closely watched moves by a major U.S. bank into blockchain-based securities trading.