BlackRock’s Larry Fink Aims to Tokenize All Assets – Which RWA Crypto Will Benefit?

On August 4, BlackRock launched €311 billion worth of European money market funds on Ethereum. CEO Larry Fink describes the tokenization of stocks and bonds as the next big revolution. But which RWA crypto will truly benefit from this?

Larry Fink Wants to Tokenize All Assets

Fink has been saying it for years: every stock, every bond, and every fund can become a token. In his letter to investors, he compares this shift to the early days of the internet. His point is simple. Half of the world has a digital wallet on their phone, so why can’t investing be as easy as paying?

BlackRock is turning those words into action. The company launched twelve tokenized share classes for six funds from the Institutional Cash Series, totaling €311 billion. Everything runs on Ethereum, which gives the long-term Ethereum price forecast a stronger foundation.

JPMorgan’s Kinexys platform serves as the bridge between the blockchain and the fund administration. A day earlier, two other tokenized money market funds went live in the United States. The tokens are available for purchase in fifteen markets, including the Netherlands.

RWA Crypto Market Set to Grow into Trillions by 2030

The numbers show how quickly this is happening. As of August 1, there were approximately $36 billion in real assets on blockchains, compared to a fraction of that two years ago. Ethereum houses about $17.1 billion of that, nearly half of the entire market.

Projections for 2030 vary widely but all point in the same direction:

• McKinsey: approximately $2 trillion in tokenized assets by 2030, excluding stablecoins.
• Boston Consulting Group: $600 billion to $1 trillion in tokenized fund assets by 2030.
• Standard Chartered: a market of up to $30.1 trillion by 2034.

Which Crypto to Buy to Ride the Tokenization Wave?

Three names keep coming up among investors looking for crypto with potential in this theme: Ethereum, XRP, and Chainlink.

Ethereum is the most obvious choice. Major players repeatedly choose the network for their funds because the regulations and custody of tokens are well managed. However, the Ethereum price hardly moves with this news and remains around $1,863.

The XRP Ledger is also growing rapidly. It now holds over $4.18 billion in tokenized assets, 28 times more than a year earlier. These include commodities, credits, and government bonds. The XRP price has not benefited much from this so far, remaining around $1.06, which means the Ripple price forecast heavily depends on new institutional clients.

The third name is Chainlink. This network provides the price data and connections between blockchains that banks need. The volume over CCIP has increased by 319 percent this year compared to last year, partly due to players like Amundi and Visa.

What Investors Are Watching Now

Tokenization is primarily building the rails under the market, and this happens independently of daily prices. The prices of Ethereum, XRP, and Chainlink are all well below their peaks, while the amounts on the blockchain are breaking records.

Our crypto analyst sees it soberly: "The infrastructure is really there now. The price will only follow when daily money flows through, and that will take longer than many investors hope." Besides the big names, smaller projects are also growing rapidly in this sector, leading to small cryptos with potential increasingly appearing in portfolios.

The future of crypto is thus partly tied to Wall Street. If more funds like BlackRock’s emerge, RWA crypto will remain one of the few corners of the market with real customers and real revenue.