How Ethereum The RWA -Tokenization War wins

“Ethereum wins the war for real-world assets, and nothing is close,” said Ryan Sean Adams of Bankless on Monday.

The network currently has a market share of 57% of the RWA on-chain value, including stablecoins, and that number is even higher when Ethereum Layer-2 networks are included.

Adams said that RWAs are a network effect game, liquidity that provides liquidity and go to institutions where liquidity is.

Impressive statistics

The figures speak for themselves, with Ethereum taking an impressive market leader about rival chains for RWA value on-chain, which is currently at a record high of $ 28.5 billion (excluding stablecoins).

The Stablecoin offer on Ethereum is also at a record high of more than $ 160 billion, of which around $ 5 billion will be added last week, according to To Token terminal.

Adams pointed out that when Layer-2 and EVM networks are included, the Ethereum sharing fluctuations are 95%. Newer Stablecoin-oriented networks, such as Stripe Tempo, Circle Arc and Plasma Tether, are all based on Ethereum Virtual Machine.

Ethereum wins the war for real assets and nothing is close.

I just looked at the numbers and oh my god.

Two things to establish.

First, RWAs are a network effect game. Liquidity conceives liquidity. Institutions go where liquidity is. Win power laws.

Second,… pic.twitter.com/fozwizfrzg

– Ryan Sξan Adams – RSA.eth (@ryansadams) September 8, 2025

“Stablecoins are the king of Rwas, the OGs -90% of all RWAs are stablecoins. No RWA class is so mature. All other assets will go where the stablecoins go. Winning Stablecoins probably means winning Rwas and Ethereum Stablecoin Network effects.”

The figures for other assets tokenized on Ethereum are also impressive. It has $ 5.2 billion in tokenized treasurys, a share of 70%, rising to 86% when EVM is included. “All emennents who matter – BlackRock, Wisdomtree, Franklin, ONDO have treasuries on Ethereum,” said Adams.

There is also a record of $ 2.4 billion in tokenized gold on Ethereum, and the supply has doubled since the beginning of this year, according to the token terminal. Ethereum recommends the tokenized raw material sector with a dominance of 77%, rises to 97% when the Layer-2 Polygon network is taken, according to to RWA.XYZ.

Tokenized shares are still on the rise, with only $ 420 million in value on the chain, but heavyweights such as Robinhood, Etoro and even Coinbase are about to enter, and “these are all prepared to mention tokenized effects on Ethereum L2S.”

BlackRock’s USD Institutional Digital Fund (Buidl) and the recently launched Fidelity Digital Interest Token (FDIT) Tokenized Treasury Fund are both on Ethereum.

ONDO Finance launches 100+ tokenized US shares
Stripe and paradigm launch new L1: Tempo
Fidelity launches $ 200 million tokenized treasury fund
Fireblocks unveils Enterprise Stablecoin Network
Senate is circulating a new design from the American Crypto market structure account

– rwa.xyz (@rwa_xyz) September 8, 2025

Ethereum, the ledger of the world

It is difficult to see how the underlying asset, ETH, can benefit from this overwhelming RWA -Dominance, even though the prize got stuck last week.

Adams said it is a foregone conclusion:

“If Ethereum becomes the World Book, you think it is far -fetched to believe that it will be active – with lower issues than Bitcoin or Gold and better resistance of censorship – do you think it is far -fetched to believe that ETH will overtake and even surpass this other store of value assets?”

This does not even take into account the 4% of the total offer that digital assets treasuries, which can see this potential, have scooped up the past five months while selling paper traders.