#以太坊成华尔街资产代币化平台 Ethereum has become the preferred platform for asset tokenization on Wall Street. As of December 2025, the on-chain RWA scale is about $12 billion, accounting for nearly 66% of the total share of distributed assets, with giants like JPMorgan and BlackRock focusing on compliant tokenized products.
1. Core Status (Institutional Layout)
- JPMorgan (December 15): Launches the Ethereum tokenized money market fund MONY, with seed funding of $100 million, aimed at qualified investors, underpinned by short-term U.S. Treasury bonds/repo agreements, supporting cash/USDC subscriptions and redemptions.
- BlackRock: BUIDL Fund (March 2024) exceeds $2 billion in scale, tokenizing U.S. short-term Treasury bonds, accounting for about 41% of the U.S. tokenized Treasury bond market, and has obtained a regulatory license in Spain.
- Other giants: Franklin Templeton, Apollo Global Management, etc., are launching tokenized currency funds and credit securitization products on Ethereum; Deutsche Bank is building a tokenization platform on zkSync, and Robinhood is using Arbitrum to launch tokenized stocks.
- Data confirms: Ethereum carries over **60%** of RWA tokenization activities, L2 (Arbitrum/zkSync) handles high-frequency compliant trading, and ERC-1400/3643 compliance standards have become industry benchmarks.
II. Four Reasons Why Wall Street Chooses Ethereum
1. Smart contract compliance: Programmable embedded transfer restrictions, investor whitelists, real-time audits, aligning with financial regulatory requirements, making it difficult for other public chain ecosystems to replace.
2. Infrastructure maturity: Stablecoins (USDC, etc.), DeFi protocols, L2 scaling (Arbitrum/zkSync), and institutional-grade tools (Securitize/Tokeny) are complete, supporting 24/7 settlements and low-friction cross-chain transactions.
3. Clear regulatory path: The US (Genius Act) provides a legal basis for stablecoins and tokenization; ETH is recognized as a 'commodity' by the CFTC, futures ETFs are listed, and spot ETF applications are progressing, with controllable policy risks.
4. Network effects and liquidity: Institutional asset tokenization forms a positive cycle, enhancing Ethereum's value capture ability as a financial settlement layer.
III. Impact on ETH and trading
1. Value reassessment: Transitioning from speculative assets to financial infrastructure, network activity and staking yields are increasing, providing long-term support for ETH valuation.
2. Short-term strategy: Macroeconomic tightening + Christmas liquidity contraction; ETH is primarily operated within the range of $2,250-$2,300 during the day; a breakout above $2,320 may chase long positions looking at $2,350-$2,380; a drop below $2,220 may chase short positions looking at $2,180-$2,200; position ≤ 20%, stop-loss not exceeding 1% of the principal.
3. Mid-term catalysis: The approval of spot ETH ETFs, continuous expansion of RWA scale, and the explosion of L2 ecosystems will bring incremental funds and narrative strengthening.
IV. Key risks and responses
- Risks: Changes in regulatory policies, network congestion/security incidents, deviations in institutional compliance execution.
- Response: Prioritize tracking leading institutional products and regulatory dynamics; trading focuses on L2 + compliant tokenized targets; strictly control leverage and positions.
