Grayscale: Ethereum, Solana, BNB Chain, Avalanche, and Canton Network Poised to Benefit from Stock Tokenization

Odaily reported on July 9 that Grayscale released research stating that stock tokenization will undergo three stages of development, with Ethereum, Solana, BNB Chain, Avalanche, and Canton Network most likely to benefit as ownership models evolve. Grayscale noted that third-party wrapped tokens account for over 70% of the tokenized stock market capitalization. In this model, traditional stocks are placed in special purpose vehicles, and investors receive tokens representing claims on the vehicle's equity, rather than direct ownership. Such wrapped assets operate on Ethereum, Solana, and BNB Chain, and can be traded and integrated into decentralized finance applications. Grayscale identified the pilot program planned by DTCC as the second stage of tokenized stock development, with Canton Network set to be the first blockchain used for the DTCC tokenization pilot. The third stage is issuer-sponsored tokenization, where companies natively issue securities on-chain. Securitize became the first publicly traded company to tokenize its own common stock when it listed on the New York Stock Exchange. Grayscale expects that wrapped tokens, the DTCC equity model, and issuer-sponsored issuance will coexist for the next several years. (Bitcoin.com News).