Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Ethereum breaks $1 billion mark in tokenized US Treasuries

Ethereum breaks $1 billion mark in tokenized US Treasuries

Cryptobriefing2024/05/29 15:28
By:Gino Matos

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.

Ethereum breaks $1 billion mark in tokenized US Treasuries image 0 Ethereum breaks $1 billion mark in tokenized US Treasuries image 1 Caption

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.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

VNBTC Launches Free Cloud Mining Platform for Effortless Cryptocurrency Income

VNBTC, a leading cloud mining platform, has launched a new service that allows users to mine cryptocurrency without any initial investment, making crypto mining accessible to both beginners and experienced users. The platform eliminates the need for expensive hardware, technical expertise, and high electricity costs, as all operations are handled in the cloud, enabling users to start mining directly from their devices.

DeFi Planet2025/05/08 02:33
VNBTC Launches Free Cloud Mining Platform for Effortless Cryptocurrency Income

Voltage Finance Exploiter Resurfaces, Moves $182K in ETH to Tornado Cash After Months of Silence

After more than five months of inactivity, the hacker behind the 2022 Voltage Finance exploit has resurfaced—this time, moving a portion of the stolen Ether through Tornado Cash, a privacy-focused mixer.

DeFi Planet2025/05/08 02:33
Voltage Finance Exploiter Resurfaces, Moves $182K in ETH to Tornado Cash After Months of Silence