Tokenization Megatrend: Grayscale Names ETH, SOL, LINK in $30B Market

Grayscale Research identified Ethereum (ETH) and several other smart‑contract and middleware networks — notably Solana, Avalanche, BNB Chain and Chainlink — as primary beneficiaries of a growing tokenization wave. The firm estimates tokenized assets at about $30 billion (up 217% year‑over‑year), led by roughly $15 billion in tokenized U.S. Treasuries and about $5 billion in commodities. Grayscale argues that expanding token issuance and trading could raise demand for blockspace, push up blockchain fees, attract liquidity and developers, and draw institutional capital to institution‑centric networks first, with open networks scaling later. The report implies positive medium‑to‑long‑term market implications for the underlying tokens and infrastructure services that enable tokenization.