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Morgan Stanley Projects Tokenized Assets Market to Reach $10T by 2030
Morgan Stanley, a prominent investment bank, has projected the market for tokenized real-world assets to reach between $3 trillion and $10 trillion by 2030. This projection was made by Amy Oldenburg, Morgan Stanley's Head of Digital Asset Strategy, at the TOKEN2049 conference on October 12, 2026. The current market size is approximately $38.6-$40 billion. Morgan Stanley's forecast is more aggressive than its previous base-case estimate of $2.3 trillion by 2030, which was released in September 2026. The projection is based on rising institutional interest and a mutual reinforcement effect, where advances in different corners of finance feed off one another. The market is currently dominated by tokenized US Treasuries, accounting for about $14.6 billion of the on-chain RWA market, which represents more than a third of the total. Morgan Stanley has pushed back its timeline for supporting tokenized equities on its alternative trading system (ATS) to Q1 2027, indicating that more institutional demand and tokenized offerings are needed before the switch can be made.