Why Morgan Stanley sees tokenized securities as a ‘natural path’ from H2 2026

The institutional race for tokenized securities is heating up. Traditional stock exchanges such as the New York Stock Exchange (NYSE) and Nasdaq are partnering with tech firms to build systems for tokenized securities.

Investment banks are also gearing up for the same. According to Morgan Stanley’s head of crypto, Amy Oldenburg, the global wealth management and investment bank will roll out support for tokenized securities in H2 2026. 

On the sidelines of Blockworks’ Digital Asset Summit, Oldenburg said, 

She added,

Unpacking Morgan Stanley’s crypto and tokenization bet

Morgan Stanley is among the big four wirehouses, alongside Merrill Lynch (Bank of America), UBS, and Wells Fargo, that allow their wealthy clients to invest in crypto. Together, these firms oversee about $15–17 trillion in client assets, with Morgan Stanley leading at $8.2 trillion.

As a result, they were viewed as the key drivers of the ‘second-wave’ of Bitcoin ETF adoption. Interestingly, this roadmap is already playing out. 

In late 2025, Morgan Stanley became the first wirehouse to allow advisors to actively pitch spot BTC and ETH ETFs to all wealth management clients, including those handling retirement accounts. This was an expansion of its earlier restricted crypto ETF access, which was limited to wealthy individuals in August 2024. 

Still, spot crypto access was included in Morgan Stanley’s E·TRADE platform for trading stocks, bonds, ETFs, and more. Through its asset management unit, the wirehouse has applied for an in-house spot BTC ETF, and market watchers believe it could flip the demand from BlackRock’s IBIT. Now, it’s betting on the next hottest market narrative: tokenization. 

As mentioned earlier, both Nasdaq and NYSE are setting the ground for tokenized securities trading. For tradFi players, tokenization improves operational efficiency and enables an expanded global market that trades 24/7.  

The segment has already exploded to $1 billion in total value, with 45% growth in monthly transfer volume to $2.5 billion, underscoring the massive adoption in the sub-sector.  In fact, in March, AI and tokenized assets were the top-performing sectors and most of the segments that saw significant adoption. 

Highlighting the growing traction, Grayscale noted, 

Final Summary

• Morgan Stanley is now betting on tokenized securities, with likely trading support expected later this year. 
• Tokenized assets have seen one of the highest growth rates in the crypto market, with adoption rising 245% YoY.