I hate to be a wet blanket, but this idea that putting TradFi assets on Ethereum will magically re-rate ETH's market cap is incorrect. Bonds, stocks, commodities, FX, etc. It can all go onchain. And it will. Guess what happens if TradFi assets are lost in a hack? The issuer simply mints them again. At virtually no cost. That's how RWAs work onchain. They rely on the legal system. The issuer can mint/burn them as they please. Lose your keys? Get hacked? Send assets to the wrong address? All good. The issuer will make you whole. ----- You know what needs *real* security? Crypto native assets (BTC/ETH/SOL). We can't mint/burn those as we please. Lose your wallet keys, get hacked, or send assets to the wrong account? You're out of luck. But that's fundamentally not how it works with RWAs on chain. ----- Ethereum's market value will re-rate when its security, decentralization, network effects, DeFi Ecosystem, L2 ecosystem, stablecoin supply/velocity, etc translate into *real onchain yield* to tokenholders. This will drive capital flows into the network and into ETH. It's how it works with nation states, currencies, and FX. It's also how it will work with L1s. Your favorite ETH bull poster should be talking about *the velocity of RWAs onchain,* instead of total assets secured. That's what drives real value and real onchain yield to tokenholders.