Key Highlights
- Tokenized real-world assets already exceed $24 billion in 2025.
- Confirmation hearing set for December 10; Polymarket odds at 87%.
- Paul Atkins on Fox Business (Dec 5, 2025): “All U.S. markets will be on-chain within two years.”
Paul Atkins, President Trump’s nominee to lead the Securities and Exchange Commission, delivered a clear message on Fox Business’ “Mornings with Maria” on December 5, 2025: the migration of U.S. capital markets to blockchain is no longer a question of “if” but “when.”
“We’re not debating whether this happens — we’re debating the timeline. And I believe all U.S. markets will be on-chain within two years,” Atkins stated.
Atkins’ Track Record on Digital Assets
A former SEC commissioner (2002–2008), Atkins has long advocated for regulatory clarity in crypto. Since leaving the agency, he has:
- Co-chaired the Token Alliance
- Served on the advisory board of Ripple Labs during its SEC litigation
- Consulted for multiple blockchain compliance firms
His nomination reflects the administration’s pro-innovation stance on digital assets.
Tokenization Momentum Heading Into 2026
Real-world asset tokenization has grown from $7 billion at the start of 2024 to more than $24 billion by December 2025, according to BlackRock and RWA.xyz data. Leading platforms include:
- BlackRock BUIDL ($3.2B)
- Franklin Templeton BENJI ($1.1B)
- JPMorgan’s JPMD tokenized money-market funds
- Ondo Finance, Centrifuge, and Maple in private credit
Projected On-Chain Migration Timeline
| Period | Milestone Expected | Current Progress / Precedent |
| H1 2026 | Expanded spot and staking ETFs | Franklin Templeton SOEZ launched Dec 2025 |
| H2 2026 | Initial public equities and corporate bonds tokenized | UBS and BlackRock pilots on Ethereum/Polygon |
| H1 2027 | T+0 settlement for major asset classes | DTCC and Chainlink trials underway |
| End 2027 | Full migration of stocks, bonds, funds, and real estate | Atkins’ stated target |
Market Implications
The statement has already influenced pricing:
- XRP +7% on institutional settlement narrative
- RWA-focused tokens (ONDO, CFG) +12–18%
- Solana +4% on Layer-2 scaling momentum
Remaining Hurdles
Atkins still requires Senate confirmation at his December 10 hearing. While Polymarket gives him an 87% chance, technical scaling and legacy-system integration remain significant challenges.
Conclusion
Paul Atkins’ declaration marks a pivotal shift in regulatory tone. If confirmed, the next 24 months will likely see the most rapid infrastructure transformation in U.S. capital markets history — from pilot programs to full on-chain settlement of stocks, bonds, funds, and real estate by the end of 2027.
For investors and builders, the message is unambiguous: the tokenization supercycle is no longer speculative. It is now a question of execution speed across Ethereum, Solana, XRP Ledger, and institutional-grade Layer-2s. The confirmation hearing on December 10 will determine whether 2026 becomes the year Wall Street finally goes fully on-chain.
