Two major reports have emerged framing tokenization as the next transformative megatrend in the crypto space, with both Grayscale and the CEO of Evernorth highlighting key players poised to benefit.
At the XRP Las Vegas event in May 2026, Evernorth CEO Asheesh Birla declared that tokenization is on the verge of becoming the default standard for assets. He compared the shift to the early days of the internet, predicting that within two years, people will simply expect assets to be tokenized. Birla argued that XRP is uniquely positioned to lead this charge due to its built-in focus on financial use cases like payments, settlements, and liquidity. He expressed excitement about XRP-based DeFi projects, including Flare and Axelar, and noted that the entry of institutional giants like JPMorgan, BlackRock, and Franklin Templeton, who are forming dedicated tokenization divisions, signals a major turning point. Birla also predicted that crypto exposure in portfolios will expand significantly as barriers to entry fall and tokenized assets like equities and gold become more common.
In parallel, investment firm Grayscale released a research report labeling tokenization a $300 trillion megatrend. The report notes that current tokenized assets amount to only $30 billion on-chain, leaving a massive gap for growth. Grayscale identifies Canton as the leading institution-centric network for tokenization, boasting over $348 billion in tokenized asset value and a critical partnership with the DTCC secured in 2026. Among open architecture networks, Ethereum, Solana, and BNB Chain are highlighted as leaders, each with distinct advantages in developer activity, transaction speed, and distribution reach. Grayscale also gives special emphasis to Chainlink, describing it as a "picks and shovels" infrastructure play that is essential across all phases of tokenization growth, regardless of which specific blockchain network ultimately prevails.
