๐ Global & Macro: The Asian and European trading sessions closed with a firm bid for digital-asset-linked equities as institutional strategists doubled down on the structural case for tokenization. Morgan Stanley published a note projecting the tokenized real-world asset (RWA) market will expand to $3โ10 trillion by 2030, framing asset tokenization as a decade-long secular growth theme. Evercore ISI maintained its Buy rating on Robinhood, arguing the market underestimates the firm’s expansion into digital assets, prediction markets and tokenized products. No major central bank or geopolitical shocks disrupted the session, leaving risk appetite anchored by the institutional adoption narrative.
๐ฆ RWA & Institutional: The RWA theme dominated the tape. Bitmine Chairman Tom Lee called asset tokenization, generational wealth transfer, digital-asset treasury companies and AI the four forces behind what he expects to be the largest crypto bull market in history, noting younger heirs carry a higher risk appetite than prior cycles. On the operational side, Robinhood Chain reported a 447% surge in weekly trading volume on its tokenized-stock DEX since launch, a striking validation of on-chain equity demand. OKX announced it will list 16 tokens โ including tokenized stocks XLUNR, XOSCR and XPENG โ effective October 13, 2026 at 15:00 (UTC+8), while cautioning that tokenized equities confer no actual shareholding or voting rights and are not offered to US persons.
โก Crypto & Markets: Market flow was constructive but selective, with capital rotating toward tokenized-equity and RWA-adjacent infrastructure rather than broad beta. Bitmine’s stock outperformed ETH during the 2025โ2026 crypto bear phase, reinforcing the growing premium investors place on treasury-style digital asset vehicles. The Robinhood Chain volume data and OKX listing pipeline signal that exchange and brokerage infrastructure is being rebuilt around tokenized traditional assets, a shift that could deepen liquidity and broaden the addressable investor base over the coming quarters.
๐ก Key Takeaway: Tokenization has moved from narrative to measurable traction โ with Morgan Stanley’s $3โ10 trillion 2030 forecast, Robinhood Chain’s 447% volume growth and OKX’s tokenized-stock listings all landing in one session, the RWA trade is transitioning from thesis to flow.