BlackRock Ethereum tokenization has made Ethereum a central platform for institutional tokenization, with more than 65% of tokenized assets currently on the blockchain. In its 2026 Thematic Outlook, BlackRock describes Ethereum as a potential toll road for tokenized financial assets, focusing on its role as infrastructure rather than as a speculative investment.
- What Is BlackRock Ethereum Tokenization About?
- Why Is Ethereum’s Tokenized Market Share Changing?
- How Do Rollups Influence BlackRock Ethereum Tokenization?
- Does Multi-Chain Adoption Challenge Ethereum’s Role?
- What Does the Future Hold for Ethereum in Tokenization?
- Conclusion
- Glossary
- Frequently Asked Questions About BlackRock Ethereum Tokenization
This shows how Ethereum could be key in moving and settling assets on-chain. With more projects using multiple blockchains and transaction patterns changing, Ethereum’s leading position is being closely watched. Experts are considering whether the network can stay on top as tokenized assets grow across different platforms.
What Is BlackRock Ethereum Tokenization About?
BlackRock’s Ethereum tokenization thesis is built around using Ethereum as the main base layer for institutional assets. The firm stated that “of tokenized assets, 65%+ are on Ethereum,” pointing to the network’s role in asset settlement, fee collection, and issuance.

The “toll road” comparison explains how Ethereum could earn fees as real-world assets and tokenized cash move on-chain. This view puts the focus on Ethereum’s practical use as infrastructure, rather than on short-term ETH price movements, and underlines its long-term importance in institutional tokenization strategies.
Why Is Ethereum’s Tokenized Market Share Changing?
BlackRock’s data snapshot from January 5, 2026, shows that 65%+ of tokenized assets were on Ethereum at that time. However, figures from RWA.xyz dated January 21–22 place Ethereum’s market share at 59.84%, with a total tokenized value of around $12.8 billion.
When stablecoins are excluded, Ethereum’s tokenized assets reach $13.43 billion, based on the same RWA.xyz networks table. The difference between these figures highlights that market share can change, depending on reporting dates and the growing use of multiple blockchains.
How Do Rollups Influence BlackRock Ethereum Tokenization?
Ethereum’s role as a base layer becomes more complex because of Layer 2 solutions. L2BEAT’s Stage 1 data shows that Arbitrum One secures $17.52 billion, Base holds $12.94 billion, and OP Mainnet manages $2.33 billion in value. These rollups allow Ethereum to keep its settlement security, even as many daily transactions and fees move off-chain.
This can affect how much economic value flows directly through ETH. Analysts point out that even small changes in where transactions are settled can have a major impact on fee generation, especially as stablecoin usage continues to expand. Citi estimates stablecoin issuance could reach $1.9 trillion in a base case and $4 trillion in a bull case by 2030, showing how large the overall activity could become.
Does Multi-Chain Adoption Challenge Ethereum’s Role?
BlackRock Ethereum tokenization is facing growing competition from cross-chain setups. BlackRock’s tokenized fund BUIDL is now live on seven blockchains through Wormhole interoperability, showing that institutions are reducing their dependence on a single network. Visa data adds to this caution, showing that stablecoin transaction volumes fall from $3.9 trillion to $817.5 billion once bot-driven or inorganic activity is removed.
This shows that organic settlement demand, rather than headline transaction totals, is what creates real network value. Ethereum continues to benefit from strong network effects, security, and developer tools, but the rise of multi-chain products could spread activity away from ETH, affecting both fee capture and Ethereum’s role in settlement.
What Does the Future Hold for Ethereum in Tokenization?
BlackRock Ethereum tokenization highlights Ethereum’s role as essential financial infrastructure rather than a speculative asset. Long-term holders and institutional participants appear confident in the network’s ability to support tokenized assets in a secure and efficient way.

Ethereum’s future success will depend on how settlement processes, fee structures, and multi-chain adoption develop over time. While Ethereum’s current lead could continue, closely tracking organic usage, rollup economics, and cross-chain integration will be important for understanding whether it can maintain its dominance.
Conclusion
BlackRock Ethereum tokenization shows how important Ethereum has become in the tokenized asset ecosystem. Current market-share estimates range from 59.84% to 65%+, reflecting both the network’s strength and the changing nature of institutional adoption. Ethereum’s ability to hold on to its role as the main settlement and fee layer will determine whether it can continue to function as a “toll road” for tokenized real-world assets.
The growth of multi-chain platforms and wider rollup use add complexity, but Ethereum’s network effects, security, and developer tools suggest it remains a core infrastructure for institutional tokenization. BlackRock Ethereum tokenization, therefore, offers a useful framework for understanding how the digital asset market could develop in the years ahead.
Glossary
BlackRock Ethereum Tokenization: Ethereum is used to handle digital assets for institutions.
Toll Road Model: Ethereum collects fees as assets move on its network.
Layer 2 Rollups: Networks on Ethereum that speed up and lower transaction costs.
Multi-Chain: Managing assets across more than one blockchain.
Tokenized Assets: Real or financial assets made into digital tokens.
Frequently Asked Questions About BlackRock Ethereum Tokenization
Why does BlackRock call Ethereum a toll road?
BlackRock says Ethereum can earn fees when assets move on-chain, like a toll road charges for use.
How much of tokenized assets are on Ethereum?
More than 65% of tokenized assets are on Ethereum, based on BlackRock’s data.
Why does Ethereum’s market share change?
Ethereum’s share changes because new assets launch on other blockchains and data updates over time.
Is BlackRock focused on ETH price?
No, BlackRock focuses on Ethereum’s role as infrastructure, not on ETH price movements.
What will decide Ethereum’s future in tokenization?
Ethereum’s future depends on where assets settle, how fees are paid, and real usage growth.

