Robinhood CEO Vlad Tenev argues that tokenization could prevent future trading halts like the one during the 2021 GameStop surge. He claims outdated settlement systems contributed to the crisis, while experts point to Robinhood's inadequate risk management as a key issue. Regulatory hurdles remain, as tokenized assets still fall under existing securities laws.

This article examines the structural issues causing illiquidity in tokenized assets, highlighting how shallow markets lead to high trading costs and instability. It argues that current market frameworks fail to provide the necessary liquidity and proposes the need for a new market structure to enable effective trading of these assets.

Morgan Stanley plans to launch crypto trading for retail customers through its E-Trade division in the first half of 2026, partnering with Zerohash for liquidity and custody. The bank aims to provide direct ownership of cryptocurrencies like bitcoin, ether, and solana, while also preparing for future tokenization of traditional assets, signaling a shift in wealth management practices.