Tokenization Boom? Wall Street Still Isn’t Biting, JPMorgan Says

Despite billions poured into blockchain initiatives promising to reshape finance, the idea of putting traditional assets like bonds, funds and private credit on blockchain rails has yet to win over major institutional investors.

The market for tokenized real-world assets — long touted as crypto’s bridge to mainstream finance — remains small, with a total value of just $25 billion, according to JPMorgan Chase & Co. And most of that, the bank says, is driven by crypto-native firms rather than Wall Street incumbents.