Citi analysts anticipate that the market for tokenized securities will grow to $5.5 trillion by 2030, according to a report by CoinDesk referencing the bank’s report Tokenization 2030: Wall Street On-Chain.
Currently, the segment is valued at approximately $17 billion.
Citi’s base scenario projects a range of $2.7-8.2 trillion, depending on the pace of adoption. The bank estimates that by 2030, 10% of short-term U.S. Treasury securities and 3% of the U.S. public equity market could transition to blockchain. Citi believes stablecoins could generate additional demand for U.S. government bonds up to $1 trillion.
Previously, the bank had issued more cautious forecasts. In the report Money, Tokens, and Games, it was projected that $4 trillion of tokenized financial and real assets would be in private markets by 2030.
Separately, analysts estimated the market for tokenized stocks at $4-5 trillion and around $1 trillion in trade finance and collateral segments. Citi is already testing the infrastructure. In November 2024, the bank, along with Fidelity International, launched a pilot with a tokenized money market fund and a digital currency swap.
At that time, Citi forecasted the segment to grow to $400 billion by 2030. In May, it was revealed that the U.S. is preparing a regulatory framework for trading tokenized securities.
In November 2025, the IOSCO stated that RWA creates new vulnerabilities, despite its potential to transform the issuance and trading of financial assets.
In May, the market capitalization of tokenized U.S. government bonds on Ethereum reached a record $8 billion.