Ethereum’s tokenized real world asset market has expanded sharply over the past year, with total value issued on its mainnet surpassing $17 billion. The figure represents an increase of nearly 315% compared with roughly $4.1 billion recorded a year earlier, highlighting accelerating institutional adoption of blockchain based financial instruments.
Data compiled by The Block indicates that Ethereum now accounts for about 34% of total onchain real world asset value across all blockchain networks. The milestone reinforces Ethereum’s position as the primary infrastructure layer for tokenized finance, particularly for dollar denominated securities and yield bearing instruments.
The broader ecosystem surrounding Ethereum has grown alongside this expansion. Stablecoins issued on Ethereum mainnet have climbed above $175 billion in aggregate market capitalization, further cementing the network’s role as a central settlement layer for digital representations of traditional assets. As tokenized securities increasingly rely on stablecoin liquidity for subscription and redemption flows, Ethereum’s deep liquidity pools continue to attract issuers.
Much of the recent growth has been driven by tokenized US Treasurys and money market products. BlackRock’s BUIDL fund, launched in partnership with Securitize in 2024, has emerged as one of the most prominent examples. The fund invests in short term US government securities and has become the largest tokenized money market vehicle operating on public blockchain infrastructure. Earlier this month, BlackRock expanded BUIDL’s functionality by enabling direct onchain trading through UniswapX, marking a notable convergence between institutional asset management and decentralized finance rails.
JPMorgan has also expanded its blockchain footprint. In December, the bank introduced its first tokenized money market fund on Ethereum, initially seeded with $100 million and made available to qualified investors. The launch forms part of the bank’s broader digital asset strategy and reflects growing confidence among traditional financial institutions in Ethereum’s settlement capabilities.
Beyond government debt products, other asset classes are gaining traction. Tokenized commodities have become an increasingly visible segment within Ethereum’s real world asset landscape. Wintermute recently introduced institutional trading services for tokenized gold, projecting that the tokenized commodities market could approach $15 billion by 2026. Commodities already account for more than $5 billion of Ethereum’s current real world asset footprint.
The momentum aligns with longer term projections from major financial institutions. Standard Chartered has estimated that tokenized real world assets could reach $2 trillion by 2028, with Ethereum capturing a substantial share of issuance. ARK Invest has projected that tokenized assets could rise to approximately $11 trillion by 2030, suggesting that current figures may represent only the early stages of structural transformation.
As traditional funds, commodities and fixed income instruments continue migrating onto public blockchain networks, Ethereum’s expanding tokenized real world asset base signals a shift in how institutional capital interacts with decentralized infrastructure.
