Ethereum continues to dominate the stablecoin market, adding roughly $1 billion in new stablecoins almost every day last week. According to Token Terminal, the total supply of Ethereum-based stablecoins has surged to an all-time high of $165 billion, reflecting a strong preference among institutional and retail players for Ethereum as a reliable DeFi hub. This growth marks a doubling of stablecoin supply since January 2024, underlining Ethereum’s expanding role in the digital financial ecosystem.
Data from RWA.xyz slightly differs, reporting $158.5 billion in Ethereum stablecoins, still a record. Ethereum now commands a 57% market share in stablecoins, far ahead of its closest competitor, Tron, which holds 27%, and Solana with less than 4%.
Tokenized Gold Surges on Ethereum
Ethereum is not only leading in stablecoins but is also witnessing rapid adoption of tokenized gold. Token Terminal reports that Ethereum hosts around $2.4 billion worth of tokenized gold, a figure that has doubled year-to-date. This highlights the growing appeal of Ethereum for real-world asset (RWA) tokenization, allowing investors to access traditional commodities in a decentralized manner.
RWA.xyz notes that Ethereum holds a 77% market share in tokenized commodities. When including layer-2 solutions like Polygon, this share rises to an impressive 97%. Tokenized gold is becoming a key component of the Ethereum ecosystem, reflecting the network’s strength in bridging traditional assets with blockchain technology.
Ethereum Dominates RWA Tokenization
Ethereum’s advantages extend beyond gold and stablecoins. The network has captured more than 70% of the market share for tokenized U.S. Treasurys, which is the second-largest asset class on blockchain after private credit. Real-world asset tokenization on Ethereum is attracting global financial institutions seeking credible, permissionless, and neutral platforms for on-chain deployment.
This RWA tokenization trend has also contributed to Ether’s strong performance. Since April, ETH prices have climbed over 200%, reaching an all-time high just below $5,000 on August 24. The surge has been further supported by treasury corporations accumulating nearly 4% of Ethereum’s total supply in just five months, demonstrating institutional confidence in the network.
Fidelity Joins the Ethereum RWA Wave
Ethereum’s tokenization ecosystem is also attracting major asset managers. Fidelity, the third-largest asset manager globally, recently launched the Fidelity Digital Interest Token (FDIT), a tokenized U.S. Treasurys fund, on Ethereum. As of early September, FDIT has amassed $203.6 million in assets under management.
Fidelity’s move into Ethereum-based tokenized funds highlights the network’s credibility and neutrality, which are key for mass adoption of blockchain financial products. According to Ethereum educator Anthony Sassano, Ethereum’s permissionless nature ensures that no single entity controls the network, making it ideal for institutions looking to tokenize real-world assets.
Why Ethereum Remains the Go-To Network
Ethereum’s dominance in stablecoins and tokenized assets stems from multiple factors. High liquidity, robust developer activity, and network reliability make it attractive for both retail users and institutional players. Its layer-2 ecosystems, like Polygon, further enhance scalability and reduce costs, making Ethereum a comprehensive platform for DeFi and RWA adoption.
Tokenized assets on Ethereum provide several advantages. Stablecoins offer efficient payment and settlement options, while tokenized gold and U.S. Treasurys enable investors to diversify into traditionally illiquid markets. The combination of these factors has cemented Ethereum as the top choice for real-world asset adoption, surpassing other smart contract platforms.
Institutional Adoption Driving Growth
Institutional inflows have been pivotal to Ethereum’s growth in 2025. Treasury firms, hedge funds, and asset managers are increasingly adding ETH to their reserves, often using it as a foundation for DeFi and tokenized products. This growing demand provides structural support to Ether’s price, even amid volatile market conditions.
Moreover, Ethereum’s RWA ecosystem is expanding rapidly. From stablecoins to tokenized commodities and U.S. Treasurys, the network continues to provide the infrastructure for modern finance on blockchain. Institutions see Ethereum not only as a digital asset but also as a reliable settlement layer for various tokenized financial products.
Looking Ahead
Ethereum’s record-breaking stablecoin supply and tokenized asset adoption signal strong growth momentum. As more institutions participate in the RWA market, Ethereum’s dominance is likely to strengthen further. Tokenized gold, U.S. Treasurys, and other financial instruments on Ethereum provide diverse investment avenues, boosting network utility and adoption.
With Fidelity and other global financial institutions embracing Ethereum for real-world asset tokenization, the network is set to remain the go-to platform for decentralized finance and institutional-grade blockchain applications. Investors and developers alike are watching closely as Ethereum continues to expand its lead in both digital and tokenized asset markets.
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