Ethereum consolidates its position as the backbone of tokenized finance, according to BlackRock's 2026 outlook report.

Source: Yellow Original Title: Ethereum consolidates as the backbone of tokenized finance, according to BlackRock’s 2026 outlook report

Original Link: Ethereum (ETH) is increasingly positioning itself as a fundamental financial infrastructure rather than a speculative crypto asset, according to BlackRock, which highlights the dominant role of the blockchain in stablecoins and tokenized assets.

The report shows that over 65% of tokenized assets are currently issued on Ethereum, far surpassing other blockchains.

BlackRock presents Ethereum as a potential “toll road” for tokenization, where value is generated through transaction flow, settlement, and issuance rather than trading activity.

Stablecoin usage surpasses crypto trading volumes

One of the key data points in the report shows that stablecoin transaction volumes have exceeded spot cryptocurrency trading volumes.

BlackRock interprets this shift as evidence that blockchain adoption is increasingly linked to functional financial activity rather than speculative trading cycles.

Stablecoins are described as an early and live example of tokenization in practice, enabling assets to be issued, traded, settled, and recorded directly on the chain.

The report notes that this activity is already happening at scale, indicating that blockchain-based finance could go beyond native cryptocurrency use cases.

The role of Ethereum in tokenized assets and private markets

The report links the adoption of stablecoins with the potential expansion of tokenization into private credit and real-world assets, areas traditionally limited by settlement friction and operational complexity.

Ethereum’s share of tokenized assets positions it as the primary settlement layer if tokenization continues to expand into these markets.

BlackRock places Ethereum within broader infrastructure themes, comparing its function to electrical grids and data networks rather than consumer-oriented investment products.

Tokenized assets are defined as digital representations of property rights that can be issued, settled, and recorded on a blockchain, separating their utility from price movements in crypto markets.

This positioning aligns with available data, which shows that Ethereum hosts the majority of the world’s tokenized real-world assets by value.

Additionally, analysis from the Bank for International Settlements identifies tokenization as a structural shift in financial market infrastructure.

While the report does not make price forecasts, it frames Ethereum’s relevance around its settlement share, transaction throughput, and use as infrastructure, highlighting its evolving role in tokenized financial markets rather than in speculative cycles.