Citi Projects $5.5T Tokenized Asset Market by 2030 as Ethereum Trades Below $2,000
Citi's Tokenization 2030 report projects the real-world asset tokenization market growing from $17 billion today to a base case of $5.5 trillion by 2030, with a range of $2.7 trillion to $8.2 trillion. Ethereum, widely used for tokenization by Wall Street firms, traded near $1,985 at publication after a 0.85% daily decline.
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The Citi Forecast
Citi's Tokenization 2030: Wall Street On-Chain report puts the tokenized real-world asset market at $17 billion today and projects a base-case value of $5.5 trillion by 2030. The bank's range runs from $2.7 trillion in a low case to $8.2 trillion in a high case, depending on how quickly adoption spreads. The report was shared with reporters ahead of Proof of Talk in Paris, according to The Defiant.
The forecast rests mainly on US Treasury bills and public equities. Citi estimates about 10% of the US Treasury bill market could be tokenized by 2030, and public stocks could account for another 3% of the total, with on-chain money and tokenized deposits settling those trades. The Defiant also cites a $1.9 trillion stablecoin float by the end of the decade as part of the base case.
Sources Differ on the Path to 2030
The two reports agree on the headline figures but differ in emphasis. The Defiant frames the projection as a roughly 300-fold expansion from current levels, anchored on the T-bill, equity and stablecoin assumptions. NewsBTC adds a demand estimate that the other report omits: Citi said a shift by 10% of US retail investors to on-chain trading could create about $2.6 trillion in demand for tokenized public equities. Citi described the transition as gradual, with legacy systems and blockchain rails likely to operate side by side for an extended period.
Ethereum and the Price Picture
NewsBTC reports that Wall Street firms are already using Ethereum for tokenization, citing BlackRock's BUIDL fund and the firm's plan to tokenize money market funds on the network. Price action has not reflected that positioning. Ethereum traded around $1,985 at publication, down 0.85% on the day and below the $2,000 level.
Funding rates reached their highest level since August 23, 2025, on May 31, indicating heavy long positioning. That crowding was reflected on June 1, when about $84 million in long ETH bets were liquidated. NewsBTC identifies a support band between $1,980 and $1,990, which formed a demand zone on May 29, and a double-top pattern formed on April 17 and May 6 that broke to the downside after a roughly 9% drop from the $2,460 peak. NewsBTC cites a bounce from the support zone as a route back above $2,000, with $2,220 as a later target. These are technical levels from one analyst's read of the chart rather than forecasts.
Neither source provides a Citi-sourced link between the tokenization forecast and near-term ETH demand. The report is a multi-year projection and does not address the price of any asset over the coming weeks.
Why It Matters
For Traders
Ethereum's funding-rate spike and $84 million long liquidation point to crowded positioning, while the $1,980 to $1,990 support band is the level to watch.
For Investors
Citi's base case implies tokenized assets growing about 300-fold by 2030, but the range from $2.7 trillion to $8.2 trillion shows how wide the outcome spread is.
For Builders
Projected demand from tokenized T-bills, public equities and stablecoin settlement points to growing need for compliant on-chain settlement infrastructure.
This article is for information only and is not financial advice. Read the full disclaimer.
