Ethra Ship has launched a blockchain protocol backed by four years of maritime operations, opening access to an asset class where individual vessels can cost between $30 million and $120 million.
Summary
- Ethra Ship has launched a blockchain protocol that tokenizes investments in operating maritime shipping assets.
- The platform separates its $SHIP governance token from a regulated RWA investment layer backed by vessel-owning SPVs.
- The launch comes as tokenized real-world assets continue expanding, with Wall Street forecasting multi-trillion-dollar market growth.
According to a recent announcement from Ethra Ship, the company has introduced a two-layer real-world asset tokenization protocol designed to connect crypto users and institutional investors with operating dry bulk shipping assets.
The platform is supported by Ethra Invest, which has been acquiring, managing, and commercially operating vessels since 2021, providing the protocol with an existing revenue-generating business rather than a pipeline of future acquisitions.
Speaking about the launch, Ethra Chief Executive Officer Saeed Al-Marri said tokenization only succeeds when it is built on top of an operating business rather than an idea.
“Tokenization only works when there is a real business underneath it. We bring four years of vessel operations, live charter revenue, and operational data to the protocol from day one, setting the standard maritime RWAs should be held to.”
Ethra said its portfolio has generated Time Charter Equivalent (TCE) revenue through commercial vessel operations while establishing the infrastructure required to manage maritime assets before introducing blockchain technology. According to the company, this approach differs from projects that issue tokens first and seek to acquire underlying assets later.
The protocol separates governance from regulated vessel investments
Under the announced structure, the first layer revolves around the SHIP token, which serves as the ecosystem’s utility and governance asset. Ethra said token holders will be able to stake their holdings for access to its Fleet Visibility Dashboard, which provides real-time fleet performance data, while also participating in governance decisions as the protocol develops.
Alongside the public token layer, the company has created a regulated investment tier for eligible investors who complete KYC and AML checks. According to Ethra, participants in this layer receive fractional exposure to Special Purpose Vehicles that own operating dry bulk vessels, allowing them to share in cash flows generated through commercial freight charters.
Commenting on the rollout, Ethra Chief Operating Officer Emad Shahin said the protocol combines blockchain infrastructure with a shipping business the company has operated for several years.
“Ethra Ship Protocol gives both Web3 and traditional investors a structured way to engage with an asset class that we have been operating and investing in since 2021. The infrastructure exists around our track record in the maritime sector, giving participants confidence that we have experience operating a fleet of revenue-producing ships.”
Ethra added that future development phases will expand staking features, institutional participation, and on-chain data services before eventually introducing tokenized vessel ownership.
RWA markets continue expanding beyond traditional asset classes
Maritime shipping enters the tokenization market as real-world assets continue attracting institutional attention.
As crypto.news reported in May, the value of tokenized real-world assets on public blockchains climbed to nearly $34 billion, up from roughly $5.4 billion at the beginning of 2025. Ethereum currently carries about 60% of that market, while tokenized U.S. Treasuries account for around $15 billion.
New asset categories have also continued to emerge. Earlier this month, DBS Bank announced plans to launch tokenized physical gold backed by bullion stored in Singapore, extending its digital asset strategy beyond tokenized money market funds and stablecoin services.
Wall Street institutions have also projected substantial growth for the sector. In its Tokenization 2030: Wall Street On-Chain report, Citi estimated the tokenized securities market could reach $5.5 trillion by 2030 under its base-case scenario, with projections ranging from $2.7 trillion to $8.2 trillion depending on adoption. The bank expects blockchain infrastructure to support an increasing share of Treasury bills, equities, funds, and other financial assets during the decade.
