Asset Tokenization: Citi Forecasts $5.5 Trillion

Analysts at Citi anticipate a significant growth in the market for tokenized securities, which they predict will reach $5.5 trillion by 2030. This is significantly higher than the current segment estimate of approximately $17 billion. Initially, the report Tokenization 2030: Wall Street On-Chain suggested a more conservative growth to $4 trillion.

Base Scenario and Key Drivers

Citi considers a market range from $2.7 to $8.2 trillion depending on the pace of tokenization adoption. Key growth segments include 10% of short-term U.S. Treasury securities and 3% of the public U.S. stock market on the blockchain by 2030. It is also projected that stablecoins will increase the demand for U.S. government bonds up to $1 trillion.

Previous Estimates and Infrastructure Tests

Previously, in the report Money, Tokens, and Games, Citi predicted market growth up to $4 trillion. Key segments such as tokenized equities and trade finance could account for $4-5 trillion and $1 trillion respectively. In November 2024, Citi, together with Fidelity International, launched a pilot of a tokenized money market fund and a digital currency swap solution.

Regulators’ Stance and Potential Risks

The development of the segment requires an appropriate regulatory framework. In 2025, IOSCO emphasized that RWA (Real World Assets) could create new vulnerabilities for the market. This issue is already being discussed in the U.S. where a legislative framework for trading tokenized securities is being prepared.

Record Figures and Current Achievements

As early as May 2025, the capitalization of tokenized U.S. government bonds on Ethereum reached $8 billion, highlighting the rapid growth and interest in this direction from institutional investors.

Conclusion:

Citi analysts see serious potential for asset tokenization in financial markets but also acknowledge infrastructure and regulatory challenges.

• Strengths: Increased liquidity, new investment opportunities.
• Risks: Regulatory and technological vulnerabilities.
• Opportunities: Attracting new capital, improving financial systems.
• Threats: Slowed adoption, limited support from regulators.

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