IMF notes that the tokenized market faces volatility and liquidity risks.

On October 9 that, according to Cointelegraph, the latest IMF analysis indicates that while tokenized financial markets are expanding rapidly, legal uncertainties and a lack of interoperability pose major obstacles. Data shows that as of July, the outstanding value of tokenized RWAs was approximately $65 billion, significantly smaller than the global $30 trillion capital market; the daily trading volume for related repurchase agreements reached $300 billion to $350 billion, representing only a fraction of the traditional U.S. repo market.

The IMF warned that tokenized equities have lower liquidity and volatility rates approximately 1.5 times higher than those of traditional assets. Although their current low market share restricts systemic risk, increasing interconnectedness could amplify potential sell-offs, liquidity runs, and contagion risks. The IMF urged the prompt improvement of legal and regulatory frameworks to prevent emerging financial vulnerabilities.