Fidelity Investments sees institutional adoption of tokenized finance moving into a stage where reversal is no longer realistic, according to Matthew Horne, the firm’s head of digital asset strategy. Horne said that over the past 18 months, serious institutional players have kept pushing toward an onchain future, arguing that tokenization offers structural advantages for financial firms and gives asset managers a way to reach new markets. He added that U.S. asset managers in particular have strong incentives to move assets onchain because tokenization can improve how investors access those assets.
The report also cited fresh market figures from the past 30 days. Demand for tokenized assets rose 41%, while the number of holders climbed above 493,000. Over the same period, more than $1.2 billion moved onchain, and the combined size of stablecoins and tokenized assets topped $323 billion. UBS executive Ka Yan Chan said core assets such as U.S. Treasurys and equities could bring billions of dollars onchain. She added that if institutions such as the Federal Reserve or the Depository Trust and Clearing Corporation shift the custody layer to tokenized platforms first, onchain capital could expand from billions to trillions of dollars.
Fidelity Investments believes the institutional move toward a tokenized onchain future has reached a stage with no real turning back, according to Cointelegraph.
Matthew Horne, the asset manager’s head of digital asset strategy, said serious institutions have continued to push in that direction over the past 18 months. He said tokenization can give financial institutions structural advantages and help asset managers reach new markets. In his view, U.S. asset managers have particular reason to move assets onchain because tokenization can improve how investors gain access to those assets while opening distribution to new markets.
Demand for tokenized assets rose over the past 30 days
Horne said demand for tokenized assets increased 41% in the past 30 days, with the number of holders rising above 493,000.
During the same period, more than $1.2 billion moved onchain, bringing the combined size of stablecoins and tokenized assets to more than $323 billion.
UBS points to core assets as a possible driver
Ka Yan Chan, head of digital asset business development at UBS, said core assets such as U.S. Treasurys and equities could bring billions of dollars onchain.
She also said that if market infrastructure institutions such as the Federal Reserve or DTCC move the custody layer onto tokenized platforms first, the amount of capital onchain could grow from billions of dollars to trillions.
SEC issued a no-action letter to a DTCC subsidiary
The report said the U.S. Securities and Exchange Commission issued a no-action letter in December 2025 to a subsidiary of the Depository Trust and Clearing Corporation, allowing it to provide tokenized securities market services.
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