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Ethereum stands to gain the most from the tokenization wave washing over Wall Street, BlackRock (NYSE:BLK) says.
"As we look towards the next era of tokenization, Ethereum may be poised to be a beneficiary of growth," BlackRock strategists said in its 2026 outlook, citing the network’s share of the tokenization market.
Ethereum hosts over 65% of tokenized assets, with a commanding lead over second-place BNB Chain, which hosts about 10%, according to BlackRock.
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BlackRock’s view came as it said tokenization is a trend it is watching this year. The company framed it as a new way to access markets. It said the concept was becoming popular, citing growing stablecoin adoption.
"In our view, as tokenization continues to rise, so will the opportunity to access assets beyond cash and U.S. Treasuries via the blockchain," BlackRock strategists led by U.S. Head of Thematic and Active ETFs Jay Jacobs said.
The remarks align with a December column in The Economist by BlackRock CEO Larry Fink and operating chief Rob Goldstein. In the column, the company’s top executives described tokenization as "the next major evolution in financial infrastructure." They touted the potential for instant settlement and fractionalization.
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However, Fink and Goldstein warned that regulations should keep pace with innovation, citing the 1929 Wall Street crash.
"As 1929 taught us, every expansion of access must be matched by updated safeguards. Tokenization must do both: move faster and move safely, building trust as it goes," they said.
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The U.S. enacted rules guiding the stablecoins last July. Lawmakers have also proposed laws to guide tokenized equities in draft cryptocurrency market structure legislation.