Tokenization Revolution: Major Players Abandon Permissioned Blockchains

As we reflect on the past year in finance, one trend stands out: tokenization. This shift towards digitizing financial assets is gaining momentum, and major players are taking notice. In October 2025, Larry Fink, CEO of BlackRock, highlighted the importance of tokenization at the Future Investment Initiative in Riyadh.

He noted that while everyone talks about AI, not enough attention is being paid to how quickly we're tokenizing every financial asset. This inflection point gave the industry permission to take action and learn more about this trend. ARK Invest's CEO, Cathie Wood, echoed Fink's sentiment, saying his conversion on the future of tokenization gave her team the green light to explore it further.

JPMorgan Chase is a notable example of a major player embracing tokenization. Despite Jamie Dimon's past criticism of Bitcoin, JPMorgan has been developing blockchain technology for over a decade and recently launched the My OnChain Net Yield (MONY) Fund, which holds U.S. Treasuries.

The fund's manager is JPMorgan, and it resides in digital wallets. This marks a significant shift towards tokenization on public blockchains like Ethereum, Solana, and others. The trend is clear: permissioned walled gardens are giving way to public blockchain networks.