“When Larry Fink says all shares, bonds, and actual property might be tokenized, imagine him,” stated crypto asset supervisor Bitwise on Wednesday.
The remark in reference to the BlackRock boss got here alongside a chart displaying that real-world asset (RWA) onchain worth had surged to an all-time excessive of just below $25 billion.
More moderen information from RWA.xyz reveals that it’s at the moment at $25.46 billion, which is near report highs.
When stablecoins are included, that determine jumps to $283 billion, which is its highest ever stage.
When Larry Fink says all shares, bonds, and actual property might be tokenized, imagine him. pic.twitter.com/OaHwez3uaQ
— Bitwise (@BitwiseInvest) August 6, 2025
Ethereum Dominates RWA
With stablecoins excluded, the most important phase of tokenized RWA is personal credit score with $15 billion onchain, adopted by US treasury debt with $6.7 billion, then commodities at $1.8 billion.
Round 73% of US Treasurys are tokenized on Ethereum, which additionally dominates for stablecoins, as 54% of them are on the community.
Tokenized shares are nonetheless a tiny phase of the general RWA market, representing simply 1.4% of the overall onchain worth.
When it comes to funds, BlackRock’s Ethereum-based USD Institutional Digital Liquidity Fund (BUIDL) is the most important with $2.3 billion in belongings below administration.
Ethereum is the dominant blockchain for tokenized belongings, with a market share of 54% whereas the Ethereum layer-2 community ZKsync Period is second with 18.6% so the overall on Ethereum is nearer to 73%.
Different chains comparable to Aptos, Solana, and Stellar have single-digit market shares.
TOP PLAYERS IN THE RWA ECOSYSTEM$ETH is main the cost and dominating tokenized belongings by a large margin.
Shut behind: ZKsync Period, Aptos, Solana, Stellar, Polygon, and Arbitrum.
These chains are powering the following trillion-dollar market. #RWA pic.twitter.com/3rL7YjkNj0
— Actual World Asset Watchlist (@RWAwatchlist_) August 6, 2025
Even hardcore Bitcoiners comparable to Fundstrat’s Tom Lee have pivoted to Ethereum just lately.
“Wall Road is working to tokenize its complete system on the blockchain, and it requires sensible contracts,” he stated this week earlier than including that the “largest and most safe blockchain with no downtime is Ethereum, and it’s legally compliant.”
Strategic ETH Reserves Prime 3 Million ETH
Ethereum’s RWA dominance has spurred a wave of ETH treasury firms which have adopted methods to stack and stake the asset.
There’s now greater than three million ETH within the strategic reserves, noticed trade knowledgeable Anthony Sassano on Thursday. Simply three treasury firms that didn’t even exist a couple of months in the past now personal over 1.6 million ETH and are aggressively shopping for extra daily, he stated earlier than including:
“ETH is a $100 trillion asset buying and selling at $443 billion.”
In the meantime, ETF knowledgeable Nate Geraci stated that ETH treasury firms and spot Ether ETFs have every purchased round 1.6% of the present whole provide of the asset because the starting of June.
