Source: Cointelegraph Original: "{title}"

As more institutions explore blockchain-based finance, some industry leaders suggest that tokenized real-world assets (RWA) could surpass $30 trillion in the 2030s. Others, however, are skeptical of this prediction.

In June 2024, Standard Chartered Bank and Synpulse predicted that RWA could exceed $30 trillion by 2034. This claim remains a topic of interest in the second half of 2024, with some analysts expressing similar views.

At the 2025 Paris Blockchain Week, a panel discussion hosted by Cointelegraph's Executive Editor Gareth Jenkinson gathered executives from across the tokenization ecosystem to discuss the future of RWA. Participants included Charles Adkins from Hedera, Dotun Rominiyi from the London Stock Exchange, Shy Datika from INX, Steven Gaertner from Tiamonds, and Michael Sonnenshein, Chief Operating Officer of Securitize.

While most supported the $30 trillion estimate, Sonnenshein expressed skepticism.

Tokenization and RWA Truth Panel Discussion. Source: Paris Blockchain Week

Sonnenshein, former CEO of Grayscale Investments, stated that tokenized assets may not reach $30 trillion. He believes there are already many "good systems" in place for trading traditional assets:

"I have to say, there are clearly some very good systems in place right now for trading these assets. So just because something can be tokenized doesn't mean it should be tokenized. Therefore, I will take a reserved stance on the $30 trillion figure."

Despite his prediction being an outlier, Sonnenshein stated that he remains optimistic about RWA, adding that his view "does not mean that tokenization won't exist for a long time."

Sonnenshein noted that the field will still see a significant influx of investors who will view their wallets not just as places for cryptocurrency speculation, but as a "real place to accommodate their investments, just like their brokerage accounts or investment accounts."

Sonnenshein also questioned the viability of real estate as a primary use case for RWA.

In the UAE, government agencies have already taken steps to link tokenization with real estate. This January, local real estate developer Damac signed a $1 billion agreement with RWA blockchain Mantra to tokenize real estate in the UAE.

While some are betting on tokenized real estate, Sonnenshein expressed skepticism about the idea. In the panel discussion, he said, "I will be the controversial one here and say I don't think tokenization should directly target real estate."

Although the executive acknowledged the advantages of tokenized real estate, he believes it does not effectively translate and represent ownership.

"I am sure that using blockchain technology can eliminate intermediaries, custodians, and various things in real estate, unlocking various efficiencies. But I think what the on-chain economy needs today is more liquid assets," he added.

Related: Dubai government agency connects property registration with property tokenization.

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