Ethereum Stablecoin Supply Reaches All-Time High
Ethereum recorded nearly $1 billion in new stablecoins daily last week, totaling around $5 billion in inflows. This surge lifted its total stablecoin supply to a record $165 billion, according to Token Terminal. The milestone more than doubles Ethereum’s stablecoin supply since January 2024, underscoring its growing role in global finance.
Different providers show slightly varied numbers. RWA.xyz estimates $158.5 billion in supply, but both confirm Ethereum’s dominance. The network now holds around 57% of the global stablecoin market share, leaving rivals like Tron and Solana far behind.
Tron and Solana Struggle to Compete
Ethereum’s closest competitor, Tron, has a 27% market share, while Solana trails in third with less than 4%. Despite Tron’s popularity for USDT transactions, Ethereum remains the go-to chain for institutional stablecoin usage due to its liquidity depth and DeFi integration.
This gap highlights Ethereum’s entrenched role in supporting large-scale financial infrastructure. Its composability with decentralized applications continues to attract both retail and institutional participants.
Tokenized Gold Supply Doubles on Ethereum
Stablecoins aren’t the only financial products thriving on Ethereum. Tokenized gold supply has doubled in 2025, reaching $2.4 billion. Token Terminal confirmed this all-time high, citing the network’s dominance in tokenized commodities.
RWA.xyz data shows Ethereum controls 77% of tokenized commodities, with dominance jumping to 97% when Polygon is included. This makes Ethereum the clear leader in transforming real-world assets (RWAs) into blockchain-native instruments.
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Ethereum Leads in Tokenized Treasurys
Ethereum’s influence extends to tokenized US Treasurys, the second-largest category of RWAs after private credit. The network currently holds more than 70% market share of tokenized Treasurys, strengthening its role as the preferred platform for regulated asset tokenization.
This expansion demonstrates how Ethereum is evolving into the backbone of traditional finance migrating onchain. Treasurys, commodities, and stablecoins together highlight Ethereum’s credibility as a settlement layer for global assets.
Ether Price Boosted by RWA Narrative
The RWA tokenization boom has directly benefited Ether’s price. ETH has surged more than 200% since April 2025, reaching an all-time high just below $5,000 on August 24. Corporate treasuries have accelerated accumulation, with institutions acquiring nearly 4% of ETH’s total supply in just five months.
Ethereum educator Anthony Sassano emphasized that this growth stems from the chain’s “credible neutrality.” Its open, permissionless structure makes it appealing to financial institutions seeking long-term infrastructure.
Fidelity Launches Tokenized Treasurys Fund
Institutional adoption continues to expand, with Fidelity, the world’s third-largest asset manager, launching a tokenized Treasurys fund on Ethereum. The Fidelity Digital Interest Token (FDIT) went live on September 1 and already manages over $203 million in assets, according to RWA.xyz.
Fidelity’s move further validates Ethereum as the settlement layer of choice for tokenized investment products. With more institutions exploring tokenization, Ethereum’s position looks increasingly unshakable.
Ethereum as the RWA Settlement Layer
Ethereum’s stablecoin dominance, record tokenized gold, and growing Treasury products all point to its deepening role as the backbone of tokenized finance. Rivals like Tron and Solaba have carved niches but remain far behind.
If current trends continue, Ethereum could cement itself as the default infrastructure for global asset tokenization. With stablecoin inflows consistently strong, and institutional products launching regularly, Ethereum is poised to remain the leading settlement layer for the digital economy.
