September 12, 2025 Market Analysis

Recently, more and more traditional financial institutions are looking for opportunities in the crypto space, while crypto project parties are also beginning to shift their focus to traditional financial services. According to Bloomberg, BlackRock plans to tokenize its funds that hold global assets and stocks, which continues the push for RWA. Not long ago, ONDO has already started stock tokenization. Although the current business is only aimed at institutions, tokenization allows ordinary retail investors to purchase shares of quality companies such as Apple, Amazon, and Tesla without needing a US stock account. This even includes countries in the third world, as long as you understand on-chain trading.
In the future, for a long time, the integration of blockchain technology and traditional finance will become closer. This year is a year of explosive growth for stablecoins, and stablecoins can also be categorized as RWA assets, except that this asset is relatively stable dollar assets like U.S. Treasury bonds. With successful cases of stablecoins, there will be a large amount of real-world assets on-chain, and beyond stablecoins, financial assets will definitely come first, such as the stocks and funds under BlackRock mentioned earlier, especially assets that have a demand for liquidity. Once on-chain, there will be more buyers, and the wider the distribution, the more beneficial it is for an asset.
As for these traditional assets being brought onto the blockchain, the biggest beneficiary is the public chain. After all, for traditional assets, the significance of having a chain is not great. In my view, the biggest beneficiary public chain is ETH. The Ethereum ecosystem has the most quality assets accumulated, and the scale of stablecoins is the largest. These infrastructures themselves will attract more assets.