Based on the most recent data, tokenized U.S. Treasury bonds continue their upward trajectory, notching a 6% gain since May 2, 2025.
Tokenized Treasuries—$6.89B and Climbing
Last Friday, May 2, the cumulative worth of tokenized Treasuries hit $6.5 billion—a historical milestone. In just one week, this figure grew by 6%, expanding to $6.89 billion and attracting approximately $390 million in new capital.
Since Jan. 1, 2025, the tokenized Treasury bond sector has grown by 71%, increasing from $4.03 billion to its current $6.89 billion valuation. Blackrock’s USD Institutional Digital Liquidity Fund (BUIDL) saw an infusion of $36 million since May 2, lifting its total from $2.871 billion to $2.907 billion.
Over the past week, Franklin Templeton’s Onchain U.S. Government Money Fund (BENJI) added $10.61 million, rising from $716.84 million to $727.45 million. Meanwhile, Ondo’s USDY fund outpaced both top contenders, expanding by $48.53 million from $581.20 million to the current $629.73 million.
Although Superstate’s Short Duration U.S. Government Securities Fund (USTB) experienced a decrease, other funds—including OUSG, USYC, JTRSY, TBILL, WTGXX, and USTBL—registered gains over the past week, according to rwa.xyz metrics. The previous week of data shows USTB’s total value declined from $651.51 million to $607.43 million.
Persistent inflows into tokenized Treasuries highlight a widening comfort with blockchain rails among asset managers and their clients, signaling that digital wrappers around government debt are no longer experimental curiosities but today’s reality. If yields remain attractive and settlement advantages stay evident, onchain funds may shift from niche allocations to the most prominent treasury operations.
