Grayscale Flags 5 Blockchains Poised to Dominate Tokenized Stocks

Grayscale is calling out the winners in the tokenized stock race, and it's a short list: Ethereum, Solana, Avalanche, BNB Chain, and Canton Network. They see tokenized equities as a major gateway for blockchain into traditional finance, with three distinct models driving adoption. The wrapper model, currently dominating, favors Ethereum, Solana, and BNB Chain for price exposure to stocks held in special purpose vehicles. This is where retail traders are flocking for 24/7 trading. The second model involves bringing existing securities on-chain via regulated rails, with Canton Network leading the charge thanks to a pilot with the DTCC. This institutional play is massive, processing quadrillions in transactions. The third and most promising model is native on-chain share issuance, with Avalanche and Solana already seeing action from companies like Securitize. Grayscale believes this issuer-native approach, despite thin liquidity and unclear rules, holds the most potential for future growth. The battle between regulated pilots and the retail appeal of wrappers will define the next phase, but for now, Grayscale's map points to clear beneficiaries.