Ethereum now runs 71.9% of all tokenized fund assets, according to market figures cited across the sector. The share cements Ethereum as the default infrastructure for a rapidly growing market, as major financial institutions increasingly move traditional assets onto blockchain rails.
The trend began gaining traction in 2021 when Franklin Templeton launched BENJI, one of the first tokenized fund products from a major asset manager. BlackRock later entered the scene with BUIDL in 2024, drawing $2.5 billion in institutional interest and pushing tokenized funds into broader capital market discussions. JPMorgan followed in 2025 with MONY, signaling that large banks are testing blockchain settlement for fund products.
BlackRock’s reported BSTBL filing in 2026 added further momentum, linked to $7 billion in tokenized fund activity on Ethereum. As the world’s largest asset manager, BlackRock’s blockchain choices are closely watched by banks, fund issuers, and service providers. CEO Larry Fink has described tokenization as a “toll road” infrastructure that collects value as usage grows — a view that now feeds into the wider debate around Ethereum’s long-term role.
The 71.9% share reflects Ethereum’s early lead in smart contracts, its existing custody links, compliance services, and deep liquidity. These factors make migration difficult for issuers, who prefer systems with proven security and strong service support. Meanwhile, purpose-built Layer 1 networks are emerging as competitors, offering lower fees and built-in compliance tools. Yet Ethereum’s network effects continue to attract the liquidity that issuers, custodians, and investors already rely on.
