Morgan Stanley expects the market for tokenized assets to reach between $3 trillion and $10 trillion by 2030, according to the bank's projection reported by The Cryptonomist on the outlook for institutional digital-asset adoption.

The range marks one of the widest institutional forecasts issued for tokenization to date. It positions the bank alongside other major financial institutions that have publicly mapped growth scenarios for putting traditional assets — bonds, funds, deposits and other securities — onto distributed ledgers.

How large is the projected market?

Morgan Stanley's base framing spans a $3 trillion to $10 trillion market by the end of the decade. The upper bound would place tokenized assets on a scale comparable to major established asset classes. The width of the range itself signals how much variance institutions attach to regulatory timing, infrastructure maturity and issuer adoption over the next six years.

For context, the projection covers assets that exist natively on blockchains or are represented by digital tokens backed by off-chain instruments — distinct from unbacked cryptocurrencies.

What does the forecast signal for institutions?

A projection of this size from a leading U.S. investment bank carries operational weight. Banks, asset managers and market infrastructure providers have already launched tokenized money market funds, digital bond issuances and deposit tokens across public and permissioned chains.

A $3 trillion floor implies tokenization moving beyond pilots into standard issuance channels. The $10 trillion ceiling would require tokenized instruments to become a default format for a meaningful share of new securities issuance — a shift that would reshape custody, settlement and collateral management across the industry.

Why does the 2030 horizon matter?

The 2030 date aligns with the timeline most global banks and consultancies use for their digital-asset maturity models. Regulators in major jurisdictions are expected to finalize frameworks for tokenized securities and wholesale settlement within this window, which will largely determine where within Morgan Stanley's range the market lands.

The projection's scale suggests institutional blockchain infrastructure — not retail trading — will drive the next phase of digital-asset market growth, with the pace set by how quickly issuers and regulators convert pilots into production volume.