In the ever-evolving world of blockchain, tokenized funds are becoming a big deal. These are essentially real-world assets (RWAs) like treasuries, bonds, or other financial instruments that get digitized and put on the blockchain for easier trading and management. Assets under management (AUM) is a key metric here—it's the total value of these assets being handled on a particular chain.

A recent post from Token Terminal (original tweet) highlights just how dominant Ethereum is in this space. According to their data, Ethereum commands about 65% of the market share in tokenized AUM, with a whopping $4 billion lead over the second-place zkSync Era.

Breaking Down the Chart

The stacked area chart from Token Terminal tracks the growth of tokenized AUM across various blockchains from 2023 through 2025. Ethereum, represented in blue, starts strong and surges ahead, reaching over $10 billion by mid-2025. That's no small feat—it's a clear sign of Ethereum's maturity and appeal for institutional-grade assets.

Right behind is zkSync Era in red, a layer-2 scaling solution built on Ethereum using zero-knowledge proofs for faster, cheaper transactions. It's impressive to see a L2 like zkSync holding its own, but Ethereum's mainnet still laps it by a significant margin.

Other notable players include:

• Solana (purple): Known for its high-speed transactions, Solana has carved out a niche but trails in tokenized funds.
• Arbitrum One (pink): Another Ethereum L2, focusing on optimistic rollups for scalability.
• Polygon (white): A versatile sidechain that's popular for DeFi and NFTs, now dipping into RWAs.
• Offchain (light blue): Assets managed outside of blockchain but still tokenized in some way.
• Avalanche (gray): A high-throughput platform that's gaining traction in finance.
• Aptos (yellow): A newer chain emphasizing safety and scalability.
• Base (orange): Coinbase's Ethereum L2, which has exploded in popularity for memes and DeFi.
• Plume Network (magenta): An emerging player in the RWA space.
• OP Mainnet (light purple): Optimism's main network, another L2 contender.
• BNB Chain (dark blue): Binance's ecosystem, strong in trading volumes.
• Ink (cyan): A lesser-known chain, possibly focused on specific niches.

The chart shows a steady climb overall, with total tokenized AUM hitting around $12 billion by 2025. Most of the growth kicks in during 2024, accelerating into 2025 as more traditional finance (TradFi) players enter the crypto fold.

Why Ethereum's Dominance Matters

Ethereum's lead isn't surprising—it's the go-to for smart contracts and has a robust ecosystem of tools like ERC-20 standards that make tokenization straightforward. This dominance signals trust from institutions, which prefer Ethereum's security and decentralization over newer, riskier chains.

For meme token enthusiasts, this is interesting context. While memes often thrive on chains like Solana or Base for their low fees and fast speeds (think pump-and-dump action), the rise of tokenized funds brings stability to the broader market. As RWAs grow, they could provide a counterbalance to meme volatility, attracting more capital that indirectly boosts liquidity for all tokens.

zkSync Era's strong showing is a nod to the power of Ethereum L2s. If you're into memes on zkSync, this could mean better infrastructure and more users flocking to the network.

The Bigger Picture for Blockchain Practitioners

Tokenized funds are bridging TradFi and DeFi, making it easier to earn yields on real assets without leaving the blockchain. Platforms like Token Terminal provide invaluable data for tracking these trends—check out their site for more metrics (tokenterminal.com).

As we head further into 2025, keep an eye on how these AUM figures evolve. Will Solana or Base close the gap? Or will Ethereum's ecosystem continue to reign supreme? For now, the data paints a clear picture of ETH's stronghold in the tokenized world.

If you're building or trading in the meme space, understanding these RWA dynamics can give you an edge. After all, a rising tide lifts all boats—or in this case, all tokens.