At this point, the company noted that Ethereum has come to the forefront as traditional financial institutions move towards tokenization.
BlackRock argued that with the increasing adoption of cryptocurrencies on Wall Street, Ethereum could benefit most directly. It was also noted that approximately 65% of tokenized assets are currently mined and managed on the Ethereum network.
BlackRock stated that according to their data, Ethereum currently supports approximately $13.2 billion worth of real-world asset tokens that can be managed through wallets.
At this point, it was stated that BlackRock’s tokenized currency market fund “BUIDL” also holds its largest stake in Ethereum.
Of the total assets of approximately $1.6 billion, about $499 million is managed on the Ethereum network, while a portion is traded on Binance’s BNB Chain.
The report also predicted that more companies would issue stablecoins and real-world asset tokens on Ethereum.
BlackRock also highlighted its leading position in the spot Bitcoin (BTC) and Ethereum ETF markets, with assets under management of approximately $70.6 billion and $10.7 billion respectively.
*This is not investment advice.