Tokenisation has crossed a credibility threshold. Once largely confined to proof-of-concept projects, it is now moving into operational deployment across asset management.

This study, published in partnership with Apex Group, features a survey of 100 senior executives across global fund management firms, aims to understand how asset and fund managers are approaching tokenisation in practice: where adoption is already occurring, what is holding progress back, and how strategies are adapting as market infrastructure and regulations mature.

Key findings include

• Half of surveyed firms have deployed tokenisation, while the other half are still at the pilot stage
• Private markets are leading adoption, with 45% already tokenised
• Access, not efficiency, is the primary driver, cited by 42% of respondents
• HNWIs are driving buy-side demand, with 63% of firms identifying them as the most engaged investor segment
• Almost all firms, 96%, rely on third-party providers to support their tokenisation strategies.