Grayscale identifies top blockchains powering tokenized stocks

2 min read

Grayscale's research outlines three distinct models for tokenized equities: wrapper tokens backed by SPVs, regulated securities moved onto blockchain infrastructure, and issuer-native on-chain shares. The wrapper model already represents more than 70% of the market and sits mainly on Ethereum, Solana, and BNB Chain, offering price exposure and DeFi integration. Grayscale cites the DTCC Canton Network pilot, operating under an SEC no-action letter and expected for commercial launch in the first half of 2026, and Securitize's issuance of SECZ tokens on Avalanche and Solana as examples of issuer-native issuance. The report says regulatory clarity and deeper liquidity remain necessary for broader adoption.

Wrapper tokens account for over 70% of the tokenized equity market.