[DigitalToday reporter Chi-kyu Hwang (황치규)] The market for real-world asset-linked tokens (RWA) based on Ethereum is growing rapidly. The Block reported on Feb. 17 that the market size of RWA issued on the Ethereum mainnet rose 315 percent to $17 billion from $4.1 billion a year earlier.

Ethereum accounts for 34 percent of total on-chain RWA value, positioning it at the centre of tokenised finance, The Block said.

The combination of traditional finance and blockchain is accelerating as major Wall Street financial firms such as BlackRock and JPMorgan build payment, savings and investment products on Ethereum-based blockchains.

A representative example is BlackRock’s tokenised U.S. Treasury fund, BUIDL. Launched in 2024 through Securitize, the fund invests in short-term U.S. Treasuries and has grown into the largest tokenised money market product on a public blockchain. BlackRock recently added an on-chain trading function through UniswapX.

JPMorgan also launched a $100 million tokenised money market fund on Ethereum in December last year. Wintermute began tokenised gold trading this week and projected the tokenised commodities market would grow to $15 billion in 2026.