Andy Baehr, Managing Director of Asset Management at crypto market maker GSR, highlighted that tokenizing short-term fixed-income products could serve as institutional collateral for futures or over-the-counter trades. He also noted that mass tokenization of equities is "exciting" for enabling 24/7 trading on digital asset platforms, though adoption scale remains to be seen. GSR has been actively building around tokenization opportunities, including a lead investment in tokenization platform Libeara in April.