Agent of ‘1011 Insider Whale’ Forecasts Ethereum as Global Settlement Layer; 2026 to Be ‘RWA Year’
Garrett Jin, identified as the agent for the so-called “1011 insider whale,” posted on X arguing that tokenizing U.S. equities as real-world assets (RWA) will be a primary mechanism for addressing America’s rising debt and refinancing needs amid de-dollarization. Jin contends extending debt cycles is impractical and that issuing more stablecoins backed by tokenized U.S. stocks—estimated at roughly $68 trillion in market value—would drive large-scale stablecoin demand and channel global capital into U.S. Treasuries. He cites BlackRock’s active push for RWA and on-chain stock trading as evidence of this trend. Rumored 2025 “sea island” debt-relief accords never materialized; instead, foreign holders (Sweden, Denmark, India) continue reducing U.S. Treasury exposure. Jin predicts Ethereum (ETH) will become the global capital markets’ settlement layer to support tokenized equities and expects 2026 to emerge as the pivotal “RWA year.” The piece frames these views as market opinion and not investment advice.
Bullish
The thesis—large-scale tokenization of U.S. equities (RWA) driving sustained demand for stablecoins and positioning Ethereum as the settlement layer—would be bullish for ETH and RWA-related infrastructure. If institutions like BlackRock successfully roll out on-chain products and tokenized stocks gain adoption, demand for settlement and custody services, stablecoins, and smart-contract platforms (notably Ethereum) would likely rise, supporting higher on-chain volume and asset valuations. Historically, institutional product launches (e.g., ETF approvals, custody integrations) have had positive price and liquidity impacts on related crypto assets. Short-term market reaction could be mixed: speculation around adoption announcements can spike prices, while regulatory uncertainty or slow implementation could cause volatility. Long-term, successful RWA adoption would increase on-chain transaction throughput, fees, and demand for secure settlement layers—benefiting Ethereum and projects enabling tokenization—while also expanding stablecoin utility. Risks that could temper bullishness include regulatory crackdowns on tokenized securities, slow institutional uptake, and competition from alternative blockchains or settlement rails.