Tokenized asset sectors target $100T+ markets

Asset tokenization represents the primary use case for blockchains, moving the industry beyond crypto-native circular activity into real-world financial markets. Blockchains function as transparent, global ledgers, making them a natural infrastructure layer for issuing, transferring, and storing the world’s most valuable assets. This shift is already underway, with trillions in traditional assets beginning to migrate onchain.

1. Stablecoins: monetizing global liquidity ($100T+ TAM)

Stablecoins are the first large-scale proof of concept for tokenization.

Today, ~$304B of stablecoins exist onchain, compared to:

• ~$100T global M2

• ~$22T US M2

• ~$8T global cash (M0)

This implies:

• ~329× upside vs. global M2

• ~72× upside vs. US M2

• ~26× upside vs. physical cash

Penetration remains extremely low (0.3% of global M2). The key takeaway is simple: stablecoins are early in monetizing global liquidity, despite already achieving product-market fit in trading, payments, and settlement.

2. Tokenized funds: digitizing asset management ($130T+ TAM)

Tokenized funds extend the stablecoin model into yield-bearing financial products.

Today, ~$32B of tokenized funds exist onchain, compared to:

• ~$130T global asset management AUM

• ~$40T alternatives + ETFs

• ~$8T US money market funds

This implies:

• ~4,090× upside vs. total AUM

• ~1,259× upside vs. alternatives & ETFs

• ~252× upside vs. MMFs

Penetration is near-zero (0.02% of global AUM). The opportunity is structural: tokenization enables distribution, programmability, and composability for traditional funds, fundamentally improving how capital is raised, deployed, and distributed.

3. Tokenized commodities: bringing real assets onchain ($54T+ TAM)

Commodities represent physical store of value and consumption assets – well-suited for tokenization.

Today, ~$5B exists onchain, compared to:

• ~$54T gold, copper, and silver markets

• ~$32T global gold market

• ~$700B gold ETF market

This implies:

• ~10,078× upside vs. total commodities

• ~5,972× upside vs. gold

• ~131× upside vs. gold ETFs

Penetration is effectively zero (<0.01%). The key dynamic: tokenization unlocks 24/7 access, fractional ownership, and global settlement for physical assets, removing friction from legacy commodity markets.

4. Tokenized equities: replatforming capital markets ($144T+ TAM)

Equities are one of the largest and most liquid asset classes globally.

Today, ~$1B exists onchain, compared to:

• ~$144T global public equities

• ~$73T US equities

• ~$20T public financial sector equities

This implies:

• ~124,231× upside vs. global equities

• ~62,978× upside vs. US equities

• ~17,254× upside vs. financial sector equities

Penetration is negligible (~0.0008%). The implication is clear: equity markets represent the largest long-term opportunity for tokenization, but also require the most regulatory and infrastructure evolution.

Conclusion

Tokenized assets continue to scale from billions to trillions over the coming decades. Each sector – stablecoins, funds, commodities, and equities – targets massive existing markets with minimal current penetration. Winning issuers and blockchains will define the next generation of global capital markets infrastructure.

All of this growth is measurable in real time. Token Terminal provides the system of record to track the migration of global assets onchain.

If your team is looking for high-quality tokenized asset data, reach out to us at [email protected] to learn more.