Ethereum draws institutions to tokenized funds, but BNB Chain overtakes it in tokenized stocks
- —Market cap of tokenized US government bond funds on Ethereum hit a record $7.5 billion, up 55.7% for the quarter
- —Franklin Templeton, Ondo USDY and BlackRock BUIDL funds each exceeded $1 billion on Ethereum
- —JPMorgan launched the JLTXX fund on Ethereum: $100 million in May, over $800 million by September
- —Ethereum's share of tokenized stocks fell to 41.2%, BNB Chain moved ahead
Why it matters: The growth of tokenized funds on Ethereum confirms TradFi demand for public blockchains, but BNB Chain's lead in tokenized stocks shows institutional capital is spreading across networks.
Source: DailyCoin