According to CoinMeta, Grayscale indicates that there are currently 3,000 on-chain vaults managing assets worth over $7 billion, which may become the next crypto product to gain widespread adoption in traditional finance. These structures are similar to secured loan obligations but use smart contracts to manage assets and distribute profits. The $7 billion in vaults tracked by Grayscale have drawn Wall Street's attention to on-chain credit, and stablecoins and tokenized assets have begun to reshape traditional finance.