Grayscale predicted in a report that the on-chain transition of the tokenized asset market is expected to take more than 10 years, and while institutional-centric platforms like Canton will be advantageous initially, open networks such as Ethereum and Solana will also secure competitiveness in the long term. Beneficiary protocols include Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink. Grayscale explained, "The tokenized asset market grew by 217% year-over-year, and the approximately $300 trillion securities market will ultimately move on-chain. Institutional-centric networks are advantageous for early adoption due to built-in compliance and privacy, while hybrid chains (such as Avalanche L1, Base, Arbitrum) combine institutional environments with open ecosystems. Open networks have deep liquidity but still lack sufficient privacy solutions. However, if privacy is secured through zero-knowledge proofs, they will be able to directly compete for institutional funds."
