[ND Insight] Crypto for Advisors: Time for Tokenization to Enter the Field

As of July 23, 2026, the discussion surrounding asset tokenization has fully transitioned from the stage of 'possibility' to 'execution.' Financial advisors can no longer dismiss tokenization as a peripheral experiment; it has established itself as a mature asset class integrated into the heart of global finance. For wealth management professionals, tokenization is no longer a mere technical curiosity, but an essential tool for portfolio diversification and efficiency enhancement.

With the U.S. Securities and Exchange Commission (SEC) entering the full rulemaking phase for 'Regulation Crypto' this month and the on-chain Real World Asset (RWA) market exceeding $33.5 billion, the institutional foundation is being completed. These changes are expected to serve as a catalyst for dramatically expanding the range of assets that advisors can offer to their clients.

The SEC, led by Chair Paul Atkins, expressed its commitment to making the U.S. the 'crypto capital' through a regulatory agenda announced on July 7, 2026. The proposed Regulation Crypto offers temporary registration exemptions for early-stage crypto projects, a move evaluated as both encouraging innovation and lowering the barrier to institutional entry. The proposal is currently under review by the Office of Information and Regulatory Affairs (OIRA) within the White House Office of Management and Budget.

To achieve the goal of making the United States the world's crypto capital, we are building a regulatory framework that embraces new technologies and innovation.

The market's growth is proven by concrete figures. The RWA market (excluding stablecoins), which averaged $7.9 billion in 2024, surged to $29 billion in the first quarter of 2026 and has reached $33.5 billion as of July 2026, marking an explosive year-over-year growth rate of 263%. This growth is primarily concentrated in asset classes favored by institutional investors, and the chart below clearly illustrates this steep upward trajectory.

The Completion of Institutional-Grade Infrastructure: DTCC and Beyond

On July 15, 2026, the Depository Trust & Clearing Corporation (DTCC) set a technical milestone by launching live transactions for blockchain-based tokenized securities. On the same day, Securitize and Cantor Fitzgerald announced a partnership to build a framework for tokenized IPOs, broadening the entry path for institutional investors. These moves signify that tokenization is no longer in the proof-of-concept stage but is operating as actual financial infrastructure. The following list summarizes key institutional changes that have occurred in recent weeks.

• July 16, 2026: Injective requested SEC approval to act as an on-chain Transfer Agent.
• July 21, 2026: An SEC task force began gathering industry feedback on tokenized securities frameworks and custody, moving toward regulatory formalization.
• Major financial institutions have begun operating actual on-chain transaction systems and frameworks for tokenized IPOs, moving beyond simple technical demonstrations.
• Traditional asset management systems are rapidly being replaced by blockchain-based transfer agent and settlement systems.

The asset classes currently available to advisors are expanding beyond Treasury bonds and private credit into equities. In particular, tokenized stocks are emerging as the fastest-growing sector; however, the SEC has warned that when these assets are traded on decentralized platforms, they may not guarantee traditional shareholder rights such as voting or dividends. Therefore, advisors must clearly understand the legal rights associated with a token when selecting products.

For the secure custody of assets, institutional-grade services such as Coinbase Custody and Cregis are gaining market trust. As the SEC has recently focused on custody and 'Safe Harbor' regulations, the regulatory stability required by advisors acting as fiduciaries is being secured. This provides a strong legal basis for asset managers to protect their clients' digital assets.

However, tokens traded under the 'Innovation Exemption' rule may have different risk profiles compared to traditional financial products in terms of investor protection. Before allocating client assets, advisors must conduct thorough due diligence on whether the token effectively represents shareholder rights. During this regulatory transition, balancing technical advantages with legal risks will be a core competency for advisors.

The tokenization market is projected to approach $3 trillion in the second half of 2026, signaling a massive paradigm shift across the financial industry. Financial advisors must closely monitor the finalization process of 'Regulation Crypto' and strengthen their on-chain asset management capabilities in preparation for the upcoming large-scale migration of assets. Tokenization is no longer an option; it has become a core competitive advantage that will define asset management beyond 2026.