Industry insights
We’ll share a concise summary of the research findings with participants, including how institutions are currently approaching reconciliation, controls and operational responsibility around tokenized assets.
Why we’re asking
Two filings, six months apart, different answers
The transfer agent’s register is authoritative
The Official Share Register prevails; the DLT platform is subordinate to it.
Off-chain prevailsThe blockchain record is authoritative
Book-entry records on the chain are the official register; the off-chain copy is a back-up.
On-chain prevailsNeither says how long the two may disagree, what an investor holds meanwhile, or whose job it is to fix it.
Both are live US filings.1 Meanwhile on-chain tokenized assets grew from roughly $11.8bn to $32.2bn in the year to June 2026,2 and three trackers put the late-2026 total at $36.1bn, $38.6bn and $46.2bn.3 We’re testing whether responsibility is clearly assigned, shared across several parties, or handled differently across operating models. Below eight responses in a segment we publish no verdict for it.
One question we’re trying to answer
Who is responsible today for ensuring that on-chain and off-chain records remain consistent?
Answer options include
Internal team
Fund administrator
Transfer agent
Custodian
Tokenization platform
Multiple parties
Results are shared with participants when fieldwork closes. No figures are published for a segment with fewer than eight responses.
Why participate?
Two reasons
Win 0.5g of investment gold
As a thank you for taking part, respondents can optionally enter a draw to win a 0.5g investment gold bar.
All it takes is approximately 3 minutes.
Take the surveyQuestions are tailored to your role
The survey adapts to whether you are an issuer, fund administrator, transfer agent, custodian or auditor. Most questions are multiple choice and focus on current operating practices.
Who is asking
Two named researchers
We are mapping how the market handles the control layer around tokenized assets, and we don’t yet know what we’ll find. Please keep answers general — no client names or confidential detail.
Siim Brazier
Co-researcher
Technology, data infrastructure and AI systems. Leads study design and analysis.
Before you start
Common questions
Will my firm be named?
No. Findings are reported in aggregate, and comments are not attributed to you or your firm without your permission.
Why do you ask for my name and work email?
We ask on the last screen, not the first, and use them solely to send you the findings, to contact you if you win the draw and, only if you say yes, to arrange a follow-up conversation. We don’t share responses with third parties or use them for marketing.
Is this a sales survey?
No. It is independent research. The questions ask what happens in practice today, never what you would like to buy.
How does the gold draw work?
Entering is optional and not a condition of taking part: tick the box on the survey’s last screen. One 0.5g investment gold bar is drawn among participants who opt in, after fieldwork closes on 30 November 2026. The winner is contacted by email.
Can I have my response deleted?
Yes. Reply to the message this link came from and we’ll remove it.
Three minutes now. The findings when fieldwork closes.
Fieldwork closes 30 November 2026.
Take the survey