Coinbase CEO: Tokenization will be great for asset management companies “I think [tokenization] will create more demand for funds and products. I think it’s going to democratize access and reduce a lot of the back office fees and costs to operate that type of business. More broadly, this term ‘tokenization’ is the idea that you have an underlying asset and then you make a digital token that 1:1 represents it. The first case we’ve seen this take off with is stablecoins… that’s the tokenization of the dollar. That took off and is doing great. It’s a huge growth area. We’re now seeing the tokenization of all these other asset classes — this can happen in real estate, private credit, and the funds that BlackRock, Apollo, and these firms put out. I think it’s going to just create more demand for their products essentially.” The world's largest asset managers are already doing this, and they're building on Ethereum: - BlackRock's BUIDL fund: ~$2.4B in tokenized U.S. Treasuries - JPMorgan's MONY: tokenized money market fund, seeded with $100M - Franklin Templeton's BENJI: $680M+ on-chain government money fund - Fidelity's FDIT: tokenized money market fund launched on Ethereum - Ondo Finance: $1.4B+ across tokenized Treasury products - WisdomTree, Hashnote, Superstate, Amundi, SocGen FORGE — all live Tokenized money market funds alone grew from $3B to $9B in a single year. Ethereum hosts ~57% of all tokenized real-world assets by value. Source: @NorgesBank (Mar 2026)