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Tokenized assets AUM surpasses $270 billion, setting a new historical high! Ethereum remains the top choice settlement layer for institutional-grade RWAs, with PayPal and BlackRock quietly making moves.
On-chain data shows that the management scale (AUM) of Tokenized Assets has quietly surpassed a historic peak, reaching approximately $270 billion. This milestone rise highlights Ethereum's core position as the preferred settlement layer for stablecoins and institutional-grade real-world asset (RWA) tokenization. The supply of PayPal's PYUSD stablecoin has exceeded $1 billion, and cases like BlackRock's BUIDL fund confirm that traditional financial giants are accelerating their on-chain layout through the Ethereum ERC-20 standard. Analysts point out that despite Ethereum's holding profit ratio reaching as high as 98%, the market needs to be wary of the significant sell pressure risks it faces.
Record Tokenization Scale: $270 Billion AUM Anchored in Diverse Asset Classes
The latest report from the on-chain data platform Token Terminal shows that the tokenization market, covering diverse asset classes such as currencies, commodities, government bonds, private credit, private equity, and venture capital, has seen its total assets under management (AUM) soar to a historic high of approximately $270 billion. This rise is primarily driven by institutions that leverage blockchain technology to enhance financial operational efficiency and asset accessibility, with Ethereum supporting about 55% of the tokenized asset AUM due to its robust smart contract ecosystem and widely adopted token standards.
Ethereum Ecosystem Dominance: ERC Standards Build RWA Tokenization Infrastructure
Ethereum's dominant position stems from its strong network effects and developer ecosystem. The ERC-20 standard has become the "universal language" of digital assets, ensuring compatibility across wallets, exchanges, and DeFi protocols. Significant value pools represented by USDT (Ethereum), USDC (Ethereum), and the BlackRock BUIDL fund are built on this framework. Meanwhile, proprietary standards like ERC-3643 are driving the on-chain tokenization of real-world assets (RWA) such as real estate and artworks. As the PoS consensus mechanism and Rollup scalability solutions continue to enhance network security, liquidity, and scalability, Ethereum's trustworthiness as a tokenization financial infrastructure is steadily increasing.
Traditional Giants Make Moves on-Chain: PayPal and BlackRock Become Key Indicators
PayPal's stablecoin PYUSD has exceeded a supply of 1 billion USD, fully issued on the Ethereum network, marking a significant event in traditional finance's embrace of the on-chain settlement layer. Its rapid rise validates that Ethereum channels possess the liquidity, security, and credibility necessary to support the large-scale operations of global fintech giants. "The scale expansion of PYUSD is pushing Ethereum onto the throne of mainstream financial settlement layers, and such stablecoins significantly enhance liquidity and usability, while institutions are quietly standardizing Ethereum," market observers point out. In addition to PayPal, traditional asset management giant BlackRock's tokenized money market fund BUIDL is also seen as a milestone for institutional adoption of on-chain solutions, showcasing the feasibility of seamless on-chain issuance and management of traditional financial tools (TradFi).
Dual Track Parallel: Stablecoins and RWA Co-creating the Value of the Ethereum Ecosystem
The flexibility of Ethereum allows it to meet both retail and institutional needs. Stablecoins like USDT and USDC provide the liquidity lifeblood for global payments and DeFi, while tokenized government bonds and credit instruments directly connect to institutional portfolios' pursuit of yield and efficiency. The current scale of $270 billion in tokenized assets is just the starting point, and as the momentum of development continues, Ethereum as the underlying pillar is expected to drive this market towards the trillion-dollar level.
Risk Warning: Selling Pressure Concerns Amidst High Profit Levels
Despite the broad prospects, analysts have issued cautious signals regarding the Ethereum secondary market. As the largest altcoin by market capitalization, Ethereum is facing significant selling pressure from the second-ranked market cap. It is worth noting that currently, 98% of the Ethereum supply is in profit, but market warning signals have begun to flash, and investors need to closely monitor on-chain holding changes and the movements of large holders.
Conclusion
The scale of tokenized assets has surpassed the historical milestone of $270 billion, marking the transition of on-chain finance from proof of concept to large-scale application. Ethereum, with its mature developer ecosystem, mainstream token standards, and continuously upgraded infrastructure, has become the preferred settlement layer for institutional-level RWA and stablecoins. The entry of traditional giants like PayPal and BlackRock not only injects massive liquidity into the ecosystem but also profoundly reshapes the paradigm of global asset issuance, trading, and management. However, as the wave of tokenization sweeps through traditional finance, investors need to be clearly aware of the short-term market volatility risks faced by Ethereum itself, maintaining a risk management awareness while embracing trillion-dollar market opportunities.