Tokenized Equities Forecast to Reach $349 Billion by 2030

A report by Binance Research forecasts that tokenized equities could reach approximately $349 billion by 2030 under its base-case scenario. This projection is part of the report titled 'The RWA Activation Era' published on September 18, 2026. The report also outlines three scenarios for tokenized equities by 2030, with the conservative case landing at $61 billion, the base case at $349 billion, and the bull case at $987 billion.

As of September 15, 2026, the on-chain balance of tokenized equities stood at $4.43 billion. This represents a significant increase of 390.4% year-to-date, according to the report. The report argues that the market is now moving into a second step, focusing on whether those tokens get used in on-chain applications such as liquidity pools, lending, and collateral arrangements.

To track this, the report introduces two metrics: the Programmable Asset Ratio (PAR) measures market penetration, and the Capital Activation Rate (CAR) measures how much of that on-chain value is actually deployed in financial applications. The equity CAR rose from 1.95% to 7.54% year-to-date, with 65.4% of deployed value sitting in liquidity pools and 28.1% in lending.