InternetX is also moving to tokenize 22 million domain names using the Doma Protocol. At the same time, firms like Goldman Sachs and BNY Mellon are tokenizing money market fund shares to enhance liquidity and preserve cash asset relevance during rising stablecoin adoption.
eToro Brings US Stocks to the Blockchain
eToro announced plans to launch tokenized versions of the 100 most popular US-listed stocks and ETFs as ERC-20 tokens on the Ethereum blockchain. This will help expand the scope of real-world asset (RWA) tokenization in the financial sector.
Press release
These blockchain-based assets will be tradable 24/5, and eToro users will eventually have the ability to transfer them off-platform into self-custody wallets or DeFi protocols. A spokesperson confirmed that the long-term goal is full user sovereignty over these tokenized stocks. eToro’s CEO, Yoni Assia, believes that tokenization has the power to remove financial boundaries and make investing more accessible and transparent.
This move is yet another step forward for eToro in the RWA space, building on its 2019 launch of tokenized gold and silver. The broader trend of tokenizing real-world assets has also been accelerating across the industry.
On June 30, 2025, Robinhood unveiled a new layer-2 blockchain built on Arbitrum that is designed to offer European investors access to over 200 tokenized stocks and ETFs, also tradeable 24/5 and commission-free. Around the same time, Switzerland-based Backed Finance released over 60 tokenized stocks—including major names like Netflix, Meta, Tesla, Amazon, and Coinbase—across platforms like ByBit, Kraken, and Solana-based DeFi protocols.
Despite these developments, tokenized stocks are currently unavailable in the United States and other restricted jurisdictions. While their market presence is still modest, accounting for $406 million of the $21.3 billion RWA market according to RWA.xyz, many industry experts see massive growth potential.
Tokenized stocks market overview (Source: RWA.xyz)
At the TokenizeThis conference in New York, STOKR CEO Arnab Naskar suggested the tokenized stock market could eventually grow into a multi-trillion-dollar opportunity. With eToro’s tokenization push the intersection of traditional finance and blockchain technology is steadily gaining momentum.
InternetX to Tokenize 22 Million Domains
InternetX, a major domain registrar under the IONOS umbrella, is also taking a big leap into Web3 after announcing plans to tokenize its entire portfolio of 22 million domains using D3’s Doma Protocol. The Doma Protocol is a DNS-compliant blockchain platform that is built for domain finance, and it will make it possible for InternetX customers and partners to convert traditional web domains into blockchain-based tokens. This move is expected to unlock new use cases like crypto trading, fractional ownership, and seamless integration with decentralized applications.
InterNetX logo
The integration will also provide access to Web3 distribution channels, bridging domain functionality to blockchain networks including Solana, Coinbase’s Base, and Avalanche. InternetX, which has served internet service providers, telecom companies, and digital agencies since the late 1990s, sees this transition as a way to modernize and future-proof domain services. Blockchain domains offer enhanced ownership security and better interoperability with the growing decentralized web.
This development was announced after similar moves in the Web3 domain space by platforms like Unstoppable Domains and the Ethereum Name Service (ENS). Unstoppable Domains has been integrating traditional .com addresses with Web3 functionality since 2023, while ENS, known for its .eth domains linked to Ethereum wallets, saw widespread adoption. It even surpassed 2 million registrations by 2022 and integrated with payment platforms like PayPal and Venmo.
The tokenization of domain services is part of the broader trend of bringing real-world assets (RWAs) on-chain, a market now estimated to be worth over $25 billion. Avalanche, one of the networks InternetX plans to integrate with, recently received a $250 million boost for RWA tokenization, doubling its total tokenized asset value.
Global tokenization market overview (Source: RWA.xyz)
According to Binance Research, the tokenized RWA market surged by 260% in the first half of 2025, fueled by institutional demand and clearer regulatory frameworks like the recently passed CLARITY Act and GENIUS Act. Overall, domain name systems may be the next frontier for mass adoption in the Web3 era.
Tokenized Money Funds Gain Momentum
Additionally, the tokenization of money market funds is emerging as a strategic move to preserve the relevance of cash-like assets during the rapid rise of stablecoins. This is according to JPMorgan strategist Teresa Ho.
As digital dollar usage accelerates, especially after the recent passage of the US GENIUS Act, traditional financial institutions are turning to blockchain technology to stay competitive. Institutions like Goldman Sachs and Bank of New York Mellon began tokenizing shares of money market funds, which not only enhances fund versatility but also introduces new financial utilities, like using tokenized shares as margin collateral without losing yield.
This shift is taking place at a time when stablecoins are posing a potential challenge to traditional cash-equivalent instruments. The Treasury Borrowing Advisory Committee previously warned that stablecoins could dampen banks’ appetite for Treasury bonds, potentially impacting credit expansion. Money market funds, which typically invest in short-term government securities, stand to be directly affected by this changing dynamic. However, experts like Peter Crane of Crane Data believe that fears over diminished Treasury liquidity may be overstated—unless the stablecoin market grows a lot larger.
Industry voices are increasingly acknowledging the importance of embracing blockchain innovation. State Street Global Advisors President Yie-Hsin Hung recently said that if Wall Street lags in adopting tokenization, traditional cash instruments could lose their appeal. JPMorgan’s Ho shared in an interview with Bloomberg that tokenized money market funds allow for more efficient collateral management and illustrate how these traditional instruments can evolve in a digital era.
