If you wanted a single number to explain why institutional finance is taking Ethereum seriously, here it is: 56.5% of all tokenized funds have been issued on Ethereum. Not on the newest, fastest, cheapest chain. On Ethereum.
That figure comes from RWA.xyz data, and it sits inside a much bigger story. As of May 22, 2026, the total onchain market cap for tokenized funds reached $32.4 billion. Ethereum’s share of that, measured by assets, clocked in at 59.6% depending on how you slice the data.
From $2 billion to $32 billion in about 18 months
Tokenized fund AUM hit $14.4 billion by late January 2026, up from roughly $2 billion a year earlier. That is a sevenfold increase in twelve months. The market then continued climbing to $32.4 billion by late May 2026, meaning it more than doubled again in just a few additional months.
BlackRock’s BUIDL fund is the headline act. The world’s largest asset manager built its tokenized money-market fund on Ethereum, and it now sits at approximately $2.9 billion in assets under management.
