Ethereum’s $200b Tokenized Asset Base Backs Analysts’ Calls For...

Ethereum’s $200 billion tokenized economy, falling exchange supply and traditional finance footprint are fundamental factors that suggest ETH is undervalued.

Ethereum currently hosts $201 billion in tokenized assets, which is nearly two-thirds of the global total of $314 billion.

Institutional growth led by BlackRock and Fidelity has driven a 2,000% surge in onchain fund AUM since 2024.

ETH exchange supply hit a yearly low, hinting at investor accumulation and a stronger market floor.

Ethereum's growing dominance in the tokenized asset landscape is reshaping how investors value its network fundamentals and its native token, Ether (ETH). As of Tuesday, tokenized assets across all blockchains amount to roughly $314 billion, with Ethereum accounting for $201 billion, nearly two-thirds of the market. This underscored its leading role as the most utilized settlement layer in crypto in 2025.

Stablecoins continue to form the backbone of Ethereum’s network economy, representing the vast majority of transaction activity. Combined USDt (USDT) and USDC (USDC) issuance on Ethereum has sustained deep liquidity pools across DeFi, cross-border payments and exchanges, helping the network maintain one of the highest transaction throughputs in the industry.

The expansion extends beyond stablecoins. Tokenized fund assets under management (AUM) on Ethereum has surged by nearly 2,000% since January 2024, driven by institutional entrants like BlackRock and Fidelity bringing traditional investment products onchain.

Fidelity Digital Assets noted that, “beyond Bitcoin and Ethereum, some of the most noteworthy developments in digital assets are happening in stablecoins and tokenized real-world assets (RWAs).”

The company highlighted that stablecoins have become a global medium of exchange, processing $18 trillion in volume over the past 12 months, even surpassing Visa’s annual throughput of $15.4 trillion.

Meanwhile, RWAs have emerged as Ethereum’s fastest-growing category. Tokenized treasuries, funds and credit instruments on Ethereum now total $12 billion, representing 34% of the $35.6 billion global RWA market. Protocols such as Ondo, Centrifuge and Maple are fueling the surge by offering yields of 4%–6% on tokenized US Treasury exposure and secured lending products.

Source: CoinTelegraph