Tokenized U.S. Treasury bonds have formally surpassed $7 billion in mixture worth, gaining a further $54 million over the course of the previous week. A number of top-tier funds have been accelerating in progress, delivering double-digit proportion returns all through the previous month, whereas Blackrock’s BUIDL stands a mere $101 million away from reaching the $3 billion benchmark.
Tokenized Treasuries Appeal to a Flood of Yield Hunters
As of Friday, Could 23, 2025, the cumulative worth of all tokenized U.S. Treasury funds has reached $7.05 billion. Over the previous month, this determine has expanded by $1.15 billion, with $54 million added throughout the latest seven-day stretch. The highest performer over the previous month was the Centrifuge-powered Janus Henderson Anemoy Treasury Fund (JTRSY), which notched an 85% enhance.
Metrics collected by the rwa.xyz analytics platform reveals JTRSY holds $409 million in property. Trailing carefully behind, Wisdomtree’s Authorities Cash Market Digital Fund (WTGXX) recorded a 48.89% achieve over the identical 30-day span, with its market capitalization at present hovering round $164 million. Following WTGXX, the Ondo U.S. Greenback Yield Fund (USDY) and the Ondo Quick-Time period US Authorities Bond Fund (OUSG) collectively superior by 23.18% since April 23.
The main fund this month is the Securitize-powered BUIDL, which climbed 15.17% and is closing in on the $3 billion milestone. At current, Blackrock’s BUIDL boasts a market capitalization of roughly $2.899 billion. Franklin Templeton’s Benji Investments—also referred to as the Franklin Onchain U.S. Authorities Cash Fund (BENJI)—gained 7.69% over the previous 30 days and trails simply behind BUIDL at $758 million. In the meantime, Spiko’s U.S. T-Payments Cash Market Fund (USTBL) superior about 3% and is at present valued at roughly $73.11 million.
Roughly $5.9 billion price of tokenized Treasury property have been issued on the Ethereum blockchain, whereas one other $482 million resides on Stellar. The rest is distributed throughout Solana, Arbitrum, Avalanche, and smaller networks akin to Polygon, XRP Ledger, and SUI. Altogether, 46 distinct tokenized Treasury devices are circulating throughout these platforms, held by roughly 18,269 distinctive addresses, in line with statistics from rwa.xyz.
Sure tokenized Treasury property are reserved solely for accredited traders, whereas others are open to the broader retail market. Holding cash from these funds—USDY, as an illustration—routinely accrues yield just by preserving them in your pockets. Nevertheless, getting access to such tokenized choices requires finishing Know Your Buyer (KYC) protocols, as no outstanding institutional-grade issuer at present permits direct funding or redemption with out satisfying KYC necessities.
Even so, these real-world asset (RWA)-backed tokens are experiencing an amazing wave of demand.
