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Ethereum breaks $1 billion mark in tokenized US Treasuries

BlackRock's BUIDL fund leads with $473 million in Ethereum-based US Treasuries.

Golden Ethereum coin symbolizing tokenized US Treasuries.

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Ethereum is now the infrastructure for over $1 billion in tokenized US Treasuries and dominates nearly 71% of the market share in this blockchain industry sector, according to real-world assets (RWA) data platform RWA.xyz

This number is majorly fuelled by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which has tokenized over $473 million in US Treasuries since March 20th, and currently dominates almost 33% of the market. Although having just 13 shareholders, BUIDL is reserved for qualified institutional investors, with a $5 million minimum investment requirement.

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Ondo’s Short-Term US Government Bond Fund comes as the second-largest Ethereum-based tokenized US Treasuries initiative, registering $156 million of real-world assets successfully represented in the digital realm. Moreover, the U.S Dollar Yield tokenized fund also issued by Ondo adds another $95 million piece to Ethereum’s dominance in this sector.

Moreover, other significant tokenized US Treasuries initiatives include Superstate’s Short Duration US Government Securities Fund, Hashnote’s Short Duration Yield Coin, and Matrixdock’s Short-term Treasury Bill Token, showing tokenized volumes of $92.4 million, $62.5 million, and $39.6 million, respectively.

The closest Ethereum competitor in the infrastructure category is Stellar and its $354.8 million in tokenized US government titles. Most of this volume is attributed to Franklin Templeton’s Franklin OnChain U.S. Government Money Fund, which has over $348 million in tokenized shares. Furthermore, WisdomTree also adds to the amount with its steady $5.5 million Government Money Market Digital Fund.

Notably, the number of tokenized US Treasuries has risen 9.3% in the last 30 days, according to RWA.xyz. The 1,785 holder pack grew to 1,952 as of May 28th. The yearly growth was even more impressive, as the number of holders shot up from 449, registering a 334% rise.

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