Ethereum Dominates Tokenized ETF Market at $441.9M After 17,000% Surge

Tokenized ETFs have reached a total market capitalization of $441.9 million as of May 18, 2026, marking a dramatic ~17,000% year-over-year increase. Ethereum leads decisively with $321 million (72.6%) of assets, largely driven by Ondo Finance’s dominant $330.9 million issuer share. The market remains minuscule relative to the $20 trillion traditional ETF sector at just 0.0022% penetration, with 651 products spanning six issuers and eight blockchains. Leading products replicate established TradFi exposures such as IVVon, IBITon and SPYon, signaling cautious institutional adoption focused on on-chain settlement rather than novel crypto strategies.