WuBlockchain
The market cap of tokenized U.S. Treasuries on Ethereum has crossed $8 billion for the first time, doubling in just six months according to Token Terminal data. The milestone signals that institutional appetite for on-chain fixed income is accelerating, not plateauing.
Growth is spread across multiple issuers: BlackRock's BUIDL via Securitize, Centrifuge's JTRSY, Franklin Templeton's iBENJI, WisdomTree's WTGXX, Ondo Finance's USDY, and Superstate's USTB are all named as primary drivers. The diversity of issuers matters — it suggests the trend is structural rather than concentrated in a single product.
Tokenized Treasuries are increasingly viewed as the on-ramp that bridges TradFi yield with DeFi composability, and Ethereum's programmable settlement layer remains the dominant venue for that convergence.
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