Securitize CEO Carlos Domingo says the tokenized real-world asset market could grow from around $30 billion to $5 trillion — and he believes stocks and ETFs, not Treasury products, will get it there.
Domingo made the comments at ETHConf in New York on Tuesday, speaking on a panel about the future of on-chain finance.

He pointed to the global equities and ETF market, which he valued at roughly $150 trillion. Even a small slice of that moving on-chain, he said, would be enough to reach the $5 trillion figure.
Tokenized U.S. Treasuries have led the RWA sector over the past two years. But Domingo argued that growth phase is maturing, and the next wave will come from equities.
He said tokenized stocks offer things Treasury products do not — broader investor access, more liquidity, and greater potential for integration with decentralized finance.
Securitize has already moved in this direction. The company announced partnerships with the New York Stock Exchange and transfer agent Computershare to support on-chain equity trading and settlement.
The company is also preparing to go public and counts BlackRock among its institutional clients.
Domingo drew a clear line between genuine tokenized equities and products he considers synthetic.
He argued that many blockchain-based stock products offered outside the U.S. rely on derivatives or synthetic structures. True tokenized equities, he said, should give investors direct ownership of shares, along with voting rights and dividends.
His preferred infrastructure for this is Ethereum. Securitize uses smart contracts to limit ownership to approved investors while keeping assets on permissionless public networks.
Domingo does not see blockchain markets replacing traditional ones outright. He expects both to run in parallel for some time.
He said on-chain securities would offer instant settlement and 24/7 transferability — features traditional markets currently lack.
The RWA sector is still early stage, but Domingo’s comments reflect a growing view among industry leaders that tokenized equities are the next major step in connecting traditional finance to crypto infrastructure.
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