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

Odaily reported that Grayscale released a research report on July 9 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 cap. Under this model, traditional stocks are placed in special purpose vehicles (SPVs), and investors receive tokens representing claims on the SPV 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 becoming the first blockchain used in DTCC's tokenization pilot. The third stage is issuer-sponsored tokenization, where companies natively issue securities on-chain. Securitize became the first publicly listed company to tokenize its own common stock when it went public on the New York Stock Exchange. Grayscale expects wrapped tokens, the DTCC equity model, and issuer-sponsored issuance to coexist for several years. (Bitcoin.com News)