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BNP Paribas Asset Management launched natively tokenized money market fund shares on the Allfunds Blockchain, enabling on-chain instantaneous order execution based on NAV. The project processes cross-border transactions between Luxembourg and France using distributed ledger technology.

This builds on ECB wholesale CBDC trials from 2024 and represents one of the first natively issued (not wrapped) tokenized fund share classes from a major European bank. Another data point in the steady march from pilot to production. Source.

Harvard’s $56.9 billion endowment just made its first ever Ethereum allocation. Harvard Management Company purchased 3.9 million shares of BlackRock’s iShares Ethereum Trust (ETHA), worth roughly $87 million, while trimming its Bitcoin ETF position by 21%. Combined crypto ETF exposure now sits north of $352 million.

Bitcoin remains their largest disclosed crypto position at $266 million, but the diversification into ETH tells a clear story. Analysts flagged it as a relative value trade, with Ethereum seen as undervalued given its dominance in tokenization, DeFi, and AI agent infrastructure. Brown and Dartmouth already have crypto ETF positions. Harvard just gave every other endowment cover to broaden the basket. Source.

BlackRock filed an amended S-1 for its iShares Staked Ethereum Trust ETF (ticker: ETHB), and we now know the economics. BlackRock and Coinbase will split an 18% cut of staking rewards, with the remaining 82% flowing to shareholders. The fund plans to stake between 70% and 90% of its ETH holdings, keeping the rest liquid for redemptions. On top of the staking fee, there is a 0.25% annual sponsor fee (waived to 0.12% on the first $2.5 billion for twelve months). At current yields of roughly 3%, that translates to an effective return of about 2.46% for investors before the sponsor fee. Coinbase to serve as both custodian and prime execution agent. Source.

Aave crossed $1 billion in tokenized real world asset deposits, becoming the first decentralized lending protocol to hit this milestone. Growth was driven largely by its Horizon market, which doubled from $600 million in January to over $1 billion by mid-February.

The protocol is generating $8 to $10 million in monthly revenue, with stablecoin lending on the rise. Meanwhile, total on-chain RWA value climbed 13.5% over the past 30 days even as broader DeFi TVL fell 25%. Ethereum led with roughly $1.7 billion in net RWA expansion.

Coinbase’s Layer 2 network Base announced it is moving to a unified, Base-operated software stack, consolidating all dependencies from the OP Stack into a single codebase (base/base). The team is targeting six hard forks per year, double the current pace.

Base framed this as a pro-Ethereum move. “Base wins when Ethereum wins,” the engineering team wrote, committing to deploy changes like Block Access Lists ahead of the L1 to provide data that informs the Ethereum roadmap. Base maintains Stage 1 rollup status and will continue settling on Ethereum. But the implications for Optimism are significant. Base was the Superchain’s primary revenue driver, and OP token dropped on the news. Source.

CFTC Chair Michael Selig said the crypto market structure bill is close to becoming law. The legislation would clarify which digital assets fall under CFTC versus SEC jurisdiction, a question that has kept institutional capital on the sidelines for years.

Passage would be a watershed moment for Ethereum specifically. Clearer regulatory classification removes one of the biggest remaining objections from compliance teams at banks, asset managers, and pension funds evaluating onchain exposure. Source:

The EF released its 2026 development roadmap, organized into three tracks: Scale, Improve UX, and Harden the L1. Under Scale, the team is pushing the gas limit beyond 100 million (up from 60 million today) and advancing zero-knowledge proof attester clients. UX improvements focus on native account abstraction and cross-L2 interoperability via the Open Intents Framework. A new Harden the L1 track introduces post-quantum security research, with Justin Drake announcing a dedicated Post-Quantum team.

Bitmine purchased 45,759 ETH last week (roughly $90 million), its largest single-week buy of 2026. Total holdings now stand at 4.37 million ETH, valued at approximately $8.7 billion, with 3 million ETH staked generating an estimated $176 million in annualized revenue.

Wall Street is piling into BMNR stock. 13F filings showed Goldman Sachs up 588%, BlackRock up 166%, and Bank of America up 1,668%. In total, 457 institutional holders now control roughly 136.7 million shares. Bitmine remains the largest ETH treasury in the world and the second-largest crypto treasury behind Strategy.

The Cambridge Centre for Alternative Finance (CCAF), in collaboration with Financial Innovation for Impact (Fii), published a major new report on tokenised private money. The study documents emerging use cases, examines interoperability challenges, and maps the shifting regulatory landscape across jurisdictions.

Key findings: programmability is already enabling pilot applications including trade-finance automation and AI-driven treasury optimization. Regulatory action is accelerating, particularly following the US policy shift, but fragmentation remains high. Essential reading. Source.

The Digital Asset Yield Summit is a curated series of institutional forums on onchain yield. Events this year will take place in Miami (May 4), New York (June 7), Singapore (October 5-6) and Abu Dhabi (December).

Designed for funds, family offices, treasuries, banks, asset managers, and the infrastructure teams behind institutional yield products.

Enterprise Onchain readers get 10% off any ticket with code entonchain. Get your ticket here.

The market cap of RWAs on Ethereum surpasses $15 billion, up ~200% YoY.

Incumbent financial institutions, including BlackRock and J.P. Morgan, are building blockchain-based versions of traditional payments, savings, and investment products on Ethereum.

Reach institutional decision-makers shaping the future of crypto adoption. Reach out.

Ethereum Becomes Rail of Choice for Crypto-Curious Bankers | Paul Brody on the American Banker Podcast by American Banker. Read here.

→ Digital Asset Senior Principal Software Engineer - JPMorgan (New York)

→ Digital Product Development Lead - Custody & Tokenization, VP - State Street (London)

→ Lead Business Systems Analyst - DTCC (New Jersey)

→ US Banks Crypto & Digital Assets Advisory Compliance Officer, Vice President - Morgan Stanley (US)

→ Product Director - Digital Custody - HSBC (Hong Kong)

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James Smith & David Walsh