The 2025 bull market is being powered not just by retail enthusiasm, but by a powerful new force: traditional financial institutions. Firms like BlackRock, Fidelity, JPMorgan, Franklin Templeton, and VanEck are no longer on the sidelines — they’re actively shaping the blockchain landscape through tokenized funds, strategic investments, and deep partnerships.
This shift has created a new class of crypto projects with strong institutional backing — particularly those involved in Real-World Assets (RWA), DeFi infrastructure, and cross-border payments. These sectors are now seeing explosive growth, driven by both market sentiment and tangible on-chain adoption.
Below is a detailed look at 18 key token projects closely tied to major Wall Street players, their recent performance, and why they matter in this evolving financial ecosystem.
BlackRock: Leading the Tokenization Revolution
BlackRock’s entry into blockchain finance marked a turning point for institutional adoption. Its tokenized fund BUIDL, launched via Securitize, now manages over $550 million in assets. Originally on Ethereum, BUIDL has expanded to Aptos, Arbitrum, Avalanche, Optimism, and Polygon, amplifying its ecosystem impact.
Projects integrated with or supported by BUIDL have seen significant momentum:
1. Ondo Finance (ONDO)
Ondo Finance stands at the forefront of the RWA movement. Its flagship product, OUSG, is a tokenized U.S. Treasury yield-bearing instrument. Initially backed by BlackRock’s SHV ETF, OUSG now allocates most of its holdings to BUIDL, creating a direct institutional link.
- Price Surge: Up over 880% in the past year, briefly hitting $1.93.
- Market Cap: ~$2.6 billion | FDV: >$18 billion
- Team: Co-founder Nathan Allman hails from Goldman Sachs’ digital assets team; other members come from McKinsey and Bridgewater.
Ondo’s upcoming Ondo Global Markets platform, set to launch in February 2025, will tokenize global equities and bonds — signaling long-term ambitions beyond Treasuries.
2. Curve (CRV)
Curve isn't just a DeFi blue chip — it's becoming a bridge between traditional finance and decentralized protocols. In November, Curve partnered with Elixir Network to enable BUIDL holders to mint deUSD, a yield-generating stablecoin.
This integration boosted CRV’s relevance in institutional DeFi:
- Price Action: Rose from $0.50 to nearly $1.30 in weeks; currently trading around $1.16.
- Market Cap: >$1.4 billion | FDV: >$2.5 billion
- Revenue Growth: Doubled post-election, reaching $581K weekly.
CurveDAO also launched scrvUSD, an interest-bearing version of crvUSD, expanding utility within yield strategies.
3. Ethena (ENA)
Ethena’s synthetic dollar protocol gained traction after announcing USDtb, a stablecoin fully backed by BlackRock’s BUIDL fund — making it the only stablecoin with such direct exposure.
- Price Performance: Up ~80% monthly, peaking above $1.14.
- Market Cap: >$3.2 billion | FDV: >$16.5 billion
- Backers: Also supported by Franklin Templeton.
This partnership underscores how next-gen stablecoins are leveraging tokenized Treasuries for scalability and trust.
4. Velo (VELO)
Velo leverages blockchain for cross-border settlements across Southeast Asia. By integrating BUIDL into its USDV stablecoin, Velo offers users seamless access to institutional-grade yields.
- Recent Rally: Up 84% monthly, briefly surpassing $0.03.
- Market Cap: ~$200 million | FDV: ~$800 million
With over 1 million users in the region, Velo exemplifies how traditional finance can scale via blockchain rails.
Fidelity: Bridging Data and Trust
Fidelity International has focused on enabling trusted data flows between traditional markets and DeFi — primarily through partnerships with oracle networks.
5. Chainlink (LINK)
Chainlink plays a critical role in verifying off-chain asset values on-chain. It recently partnered with Fidelity to publish real-time NAV data for Fidelity’s $6.9 billion liquidity fund.
Additional milestones:
- Collaborated with UBS and SWIFT on tokenized fund settlement trials.
- Integrated by Sony’s Soneium L2 and 21Shares’ ETH ETF for transparency.
- Adopted by Trump-affiliated World Liberty Financial, which purchased over 40,000 LINK tokens.
- Price Surge: Broke $29 after months below $20; last time above $20 was January 2020.
- Market Cap: >$18 billion | FDV: >$28.9 billion
Chainlink proves that reliable data infrastructure is foundational for RWA growth.
JPMorgan & Avalanche: Building Institutional Subnets
JPMorgan’s Onyx platform uses Avalanche’s subnet architecture to issue tokenized funds — highlighting Avalanche’s appeal for compliance-sensitive institutions.
6. Avalanche (AVAX)
Avalanche enables custom subnets tailored to regulatory requirements — ideal for RWA deployment.
Key developments:
- Hosts JPMorgan’s Onyx digital asset projects.
- Selected by Tether’s Hadron tokenization platform.
- Used by Littio Bank (Latin America), California DMV (vehicle titles), and Franklin Templeton (FOBXX fund).
- Price Movement: Up 37% monthly, briefly above $55.
- Market Cap: >$20.5 billion | FDV: ~$36 billion
👉 See how blockchain subnets are enabling compliant financial innovation worldwide.
Franklin Templeton: Expanding the RWA Footprint
Franklin Templeton’s FOBXX tokenized money market fund exceeds $440 million in assets and spans multiple chains: Stellar, Arbitrum, Polygon, Avalanche, Aptos, Ethereum, and Base.
Their venture arm has invested in around 30 crypto projects — eight of which have launched tokens:
7. Stellar (XLM)
Stellar hosts more than half of FOBXX’s TVL and partners with WisdomTree on digital bond issuance.
- Performance: Up over 260% monthly, briefly above $0.60.
- Market Cap: >$13.3 billion | FDV: >$22.1 billion
Stellar remains a top choice for compliant cross-border asset transfers.
8. Sui (SUI)
Franklin Templeton announced a strategic partnership with Sui in November to support ecosystem builders and deploy new financial tools.
- Price: ~$4.81 (+53% monthly)
- Market Cap: >$14.1 billion | FDV: >$48.1 billion
Sui’s high-speed architecture attracts institutional-grade applications.
9. Aptos (APT)
FOBXX is live on Aptos, adding legitimacy to the Move-language chain.
- Price: ~$13.87 (peaked at $15)
- Market Cap: >$7.4 billion | FDV: ~$15.6 billion
10. Puffer Finance (PUFFER)
A liquid restaking protocol built on EigenLayer. Backed by Franklin Templeton and Fidelity’s Avon Ventures.
- Rally: Up ~130% monthly, approached $1.
- Market Cap: ~$84 million | FDV: >$820 million
Puffer exemplifies next-gen yield infrastructure gaining institutional interest.
11. LayerZero (ZRO)
LayerZero enables cross-chain messaging and is exploring fee burning via an upcoming governance vote.
- All-Time High: Hit $7.40 in December.
- Market Cap: ~$760 million | FDV: ~$6.9 billion
Its interoperability makes it essential for multi-chain RWA deployments.
12. SHRAPNEL (SHRAP)
A AAA FPS game backed by Franklin Templeton and major VCs like Dragonfly and Spartan.
Despite internal team disputes last year:
- Current Price: ~$0.04
- Market Cap: >$33 million | FDV: >$124 million
Gaming + crypto + institutional capital = high-risk, high-reward potential.
13. Spectral (SPEC)
An AI-powered platform helping users generate and deploy smart contracts using natural language.
Backers include Galaxy Digital, Samsung, and Circle Ventures.
- ATH Reached: Broke $18 during AI sector rally.
- Market Cap: >$183 million | FDV: >$1.3 billion
AI-driven development tools are gaining traction alongside institutional use cases.
14. Arcade (ARC)
A GameFi rewards platform allowing non-players to earn from metaverse games.
Early investors include Pantera Capital and Solana Ventures.
- Price: ~$0.038
- FDV: ~$30 million
While small-cap now, Arcade represents the convergence of entertainment and finance.
VanEck: Betting on AI and Gaming
VanEck launched a $30 million VC fund for AI and crypto in October 2024 and has backed several notable projects:
15. Pudgy Penguins (PENGU)
Though primarily an NFT brand, Pudgy Penguins plans a token launch on Solana — sparking speculation.
VanEck showed support by using a Pudgy pfp on X and featuring them in their ETH ETF promo.
No official financial tie yet — but cultural alignment is clear.
16. Parallel (PRIME)
A sci-fi TCG with AAA developers and YouTube co-founder Chad Hurley involved.
Backed by Paradigm ($50M round) and VanEck.
- Price: ~$15.78 (+53% monthly)
- Market Cap: >$566 million | FDV: >$1.7 billion
Parallel also launched an AI survival game on Solana — merging gaming and AI innovation.
17. GEODNET (GEOD)
A DePIN project collecting geospatial data via rooftop weather stations.
Backed by Animoca Brands and VanEck.
- Price: ~$0.24
- Market Cap: ~$48 million | FDV: ~$240 million
Physical-world data collection is a growing niche in decentralized infrastructure.
18. 1inch (1INCH)
One of the largest DEX aggregators by volume.
Recently rallied above $0.60 before team sales brought price down to ~$0.51.
- Market Cap: >$720 million | FDV: ~$777 million
Despite controversy over token sales, 1inch remains central to DeFi trading infrastructure.
WisdomTree & Goldman Sachs: The Next Wave
WisdomTree is expanding its RWA offerings:
- Launched a Visa debit card linked to its tokenized government fund (WTGXX).
- Received NYDFS license for its WisdomTree Prime crypto app.
- Conducted private equity tokenization trials on Avalanche.
Goldman Sachs is preparing to enter the space more aggressively:
- CEO open to launching spot Bitcoin/ETH products if regulations allow.
- Plans to launch three tokenized projects in late 2025, including real estate and money market funds.
- Previously invested in Circle, BitGo, and Certik — laying groundwork for future launches.
Frequently Asked Questions
Q: Why are traditional asset managers entering crypto now?
A: Regulatory clarity, rising demand for yield, and blockchain’s efficiency in asset management make crypto an attractive frontier for institutions seeking innovation and diversification.
Q: What is RWA and why does it matter?
A: Real-World Assets (RWA) refer to physical or financial assets like bonds, real estate, or commodities represented as tokens on blockchain. RWAs bring tangible value onto chains, bridging traditional finance with DeFi.
Q: Which sectors benefit most from institutional involvement?
A: RWA tokenization, DeFi infrastructure (oracles, DEXs), cross-border payments, and AI-integrated platforms see the strongest growth due to scalability and compliance needs.
Q: Are these projects safe investments?
A: While institutional ties add credibility, crypto remains volatile. Always conduct due diligence — assess team background, product maturity, tokenomics, and regulatory risks.
Q: How does BUIDL influence other tokens?
A: BUIDL acts as a trust anchor — when projects integrate it as collateral or yield source (like Ondo or Ethena), they gain immediate validation from one of the world’s largest asset managers.
Q: Will more banks launch tokenized funds in 2025?
A: Yes — JPMorgan, Goldman Sachs, Fidelity, and others are actively developing tokenized products. Expect broader adoption across money markets, equities, and private credit.