Ethereum and the RWA shift: losing dominance or evolving into neutral infrastructure? Ethereum once nearly monopolized the RWA sector, but new data shows a clear structural change: Market share of network activity dropped from 93.4% (early 2025) to 61.1% (Q1 2026) Yet Ethereum still leads in total RWA value, holding around $18.7B The key point: Ethereum isn’t necessarily weakening, RWA is simply becoming multi-chain. Tokenized real-world assets are now expanding across: BNB Chain, Solana, Stellar, Avalanche, Arbitrum, ZKsync Era, and more. This signals fragmentation of dominance, not contraction of the sector. At the same time, the Ethereum Foundation has been leaning toward a more “neutral infrastructure” stance, reducing its direct influence over ecosystem direction. If this transition succeeds, Ethereum could shift from: a dominant ecosystem - a neutral settlement layer for the entire crypto market. Which raises the bigger question: Is Ethereum losing its leadership position… or evolving into the foundational infrastructure layer of crypto? And for RWA specifically, will capital continue to anchor on Ethereum due to trust and liquidity… Or will flows increasingly rotate into faster, cheaper, and more flexible chains? $ETH