Grayscale’s Pulido Says Tokenized Assets Need Rights, Valuations and Credit Quality

Tokenized assets will need clear legal rights and reliable valuations, while investors also assess underlying credit quality, said Sebastian Pulido, managing director and head of onchain asset management at Grayscale Investments. Pulido said tokenization’s potential differs across asset classes. Putting an illiquid asset on a blockchain does not automatically make it liquid, particularly in lending markets, he said. He described tokenized equities and perpetual futures as complementary ways to get the same market exposure. Tokenized shares avoid the funding payments associated with perpetual futures, a feature that may suit longer-term holders.