Ethereum captures 74% of tokenized ETF market as inflows surge over past year

Ethereum now commands roughly 74% of the entire tokenized ETF market, with on-chain market capitalization approaching $438 million.

The surge in inflows over the past year has been driven largely by one protocol doing the heavy lifting: Ondo Finance. Its Global Markets platform issues 1:1 backed tokens representing traditional ETFs and stocks, and the biggest names in asset management have decided that’s a bandwagon worth jumping on.

How Ondo turned Ethereum into Wall Street’s blockchain

Tokenized ETFs offer 24/7 trading, fractional ownership, and plug directly into DeFi ecosystems. The platform’s flagship product, IVVon, is a tokenized version of BlackRock’s iShares Core S&P 500 ETF. Its market cap surged approximately 150% in just one month between mid-April and mid-May 2026.

By September 2025, Ondo had expanded its offerings to include over 100 tokenized US stocks and ETFs. The total tokenized ETF market crossed $430 million by mid-May 2026.