- Market Growth of Tokenized Treasuries
- Tokenized Treasuries on Various Blockchains
- Key Players in the Market
Just five months after tokenized Treasury notes hit a $1 billion market cap, they’ve doubled again, surpassing $2 billion.
Market Growth of Tokenized Treasuries
Tokenized Treasuries are digital versions of U.S. government bonds, and now they’re flying off the blockchain. A $2 billion market cap is significant for a fresh player, but it’s a drop in the bucket compared to the entire $27 trillion U.S. Treasury market.
Tokenized Treasuries on Various Blockchains
You can trade them like tokens on Ethereum, Stellar, Solana, Mantle, and other blockchains. These digital assets are attracting interest from both crypto enthusiasts and traditional finance professionals looking to merge these worlds.
Key Players in the Market
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) is leading the charge. It launched in late March and quickly became the largest tokenized Treasury fund with a market cap of $375 million. Now, it boasts $503 million. Franklin Templeton’s OnChain U.S. Government Money Fund (FOBXX) and Ondo’s U.S. Dollar Yield (USDY) are also notable players. Smaller issuers like Hashnote have seen their offerings grow nearly 50% over the past month, reaching $218 million. Meanwhile, OpenEden and Superstate are also gaining ground, with growth rates of 37% and 18%, respectively, nearing the $100 million mark.
The tokenized Treasury market is a rapidly evolving space, attracting interest from both crypto enthusiasts and traditional financial players alike.
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