The takeaway for investors is that mispricing opportunities may arise for those taking a broad view and building exposure across the evolving ecosystem, rather than chasing individual winners.

The opportunity is framed as investing in the structural shift to on-chain financial infrastructure, not just picking crypto winners.

Bottom line: a structural shift toward tokenization and blockchain-based finance is underway and underappreciated, offering potential alpha for informed, broad exposure.

Major developments include BlackRock’s leadership in tokenization and its $2 billion BUIDL tokenized Treasury fund on Uniswap, and Apollo tokenizing its $700 billion Diversified Credit Fund across six blockchains with related plans around Morpho.

Big banks are exploring the space, with JPMorgan and others pursuing a joint stablecoin initiative and large banks in talks about a deposit token on Base; regulator-driven moves like the SEC’s Project Crypto are helping move markets on chain.

Indeed, many finance giants—JPMorgan, Bank of America, Citigroup, and Wells Fargo—are discussing tokenization and stablecoins, signaling systemic interest.

Investors suffer from anchoring bias, failing to recognize Wall Street’s rapid shift toward blockchain-based financial infrastructure and tokenization, which could be structurally mispriced.”},{

There is a disconnect between investor perception and institutional on-chain activity in crypto, suggesting crypto may be moving beyond its punk-era image and toward foundational on-chain technology.

Tokenized real-world assets have grown notably from 2020 to 2025, but it remains unclear whether value accrues to public networks, quasi-private networks, DeFi tokens, or infrastructure builders.

The Block article carries standard disclosures and notes about its independence and financial disclosures.

The tokenized asset market remains tiny relative to traditional markets (roughly $20B vs. trillions in ETFs, stocks, and bonds), highlighting substantial growth potential if tokenization scales.