This week, JPMorgan officially launched MONY on Ethereum – a RWA fund focused on US Treasuries and 100% collateralized repos. Simply put, this is real money, real assets of TradFi but powered by blockchain.
If we look at the big picture, it's not too surprising. Ethereum is currently leading RWA TVL with about 4.8 billion USD, far ahead of the following chains like BNB Chain (~1.8B), Stellar, Solana, or Aptos.
The fact that a giant like JPMorgan continues to choose $ETH as a platform only further widens this gap in the short term.
In my opinion, the key point is not just adding another RWA fund, but the signal of trust from the traditional financial system. Organizations like JPMorgan do not experiment for fun. They need stable infrastructure, deep liquidity, clear standards, and long-term scalability, and currently, Ethereum remains the safest choice for those requirements.
While many people often see RWA as a narrative of 'slow, not pumping hard', in reality, this is a sustainable and very large flow of money. Each step like MONY may not create price waves immediately, but it is silently turning Ethereum into the settlement layer for global financial assets.
If RWA continues to accelerate in 2026–2027, I think Ethereum will still be the biggest beneficiary, at least in the early stages of the game.