Ethereum’s total value locked (TVL) could increase by 10 times by 2026, thanks to growing interest from big financial institutions and the rise of new real-world use cases, according to Joseph Chalom, co-CEO of Sharplink Gaming.

This prediction comes as traditional finance players like JPMorgan, Franklin Templeton, and BlackRock ramp up their involvement with blockchain technology. These firms are testing and launching products that use Ethereum for things like asset tokenization, showing that the financial industry is warming up to public blockchains.

Sharplink Gaming currently holds the second-largest Ethereum treasury among public companies, with around 797,704 ETH valued at approximately $2.33 billion.

Chalom believes the next phase of Ethereum’s growth won’t be led by everyday investors chasing quick profits. Instead, he sees more stablecoins, tokenized real-world assets (RWAs), and institutional-grade infrastructure moving to Ethereum. This shift could significantly boost Ethereum’s TVL, a key metric that reflects how much value is locked into the network’s smart contracts.

Stablecoins are a big part of this story. Chalom expects the stablecoin market to hit $500 billion by the end of 2025 — up from about $308 billion today. Since more than half of all stablecoin transactions already happen on Ethereum, this growth could drive a major increase in on-chain activity.

Another area set to grow is tokenized real-world assets. These are traditional investments like bonds or real estate represented on the blockchain. Chalom projects the RWA market could hit $300 billion by 2026. He says we’re moving from simple tokenized products to full-blown fund structures being managed entirely on-chain.

Currently, Ethereum’s TVL is about $68.2 billion, according to DeFiLlama. If Chalom’s predictions come true, that number could surge due to increased institutional adoption rather than just speculative trading in DeFi (decentralized finance).

While Ethereum’s usage is growing, its price hasn’t kept up. ETH is down over 12% in the past year and is now trading near $2,924. Analyst Benjamin Cowen recently said he doesn’t expect ETH to reach new highs soon, mostly due to broader market conditions linked to Bitcoin’s price cycles.

Still, Chalom isn’t focused on short-term price moves. He believes that major investors like sovereign wealth funds will soon ramp up their Ethereum exposure and participation in tokenized markets — possibly increasing their holdings by five to ten times within a year.

He also sees on-chain artificial intelligence (AI) agents and blockchain-based prediction markets becoming popular in 2026. These developments would bring even more real-world activity to Ethereum’s ecosystem.

On the other hand, not everyone is doubling down. ETHZilla, a company once known for aggressively holding large amounts of Ethereum, has started selling off its ETH — unloading about $74.5 million worth — signaling a shift away from crypto-heavy treasury strategies.

In summary, Ethereum could be on the verge of a massive transformation. With growing support from financial giants and the rise of tokenized assets and stablecoins, the network’s real-world utility is expanding — even if its market price isn’t showing it yet.