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▲ Ethereum (ETH)
The market size of Ethereum (Ethereum, ETH) based tokenized US Treasury bonds has reached approximately $8 billion for the first time in history. As demand for access to traditional safe yield assets on-chain rapidly increased, the tokenized Treasury bond market grew by 100% in just six months.
The Crypto Basic reported on May 6, citing Token Terminal data, that the market capitalization of Ethereum-based tokenized US Treasury bonds reached an all-time high of approximately $8 billion. The rapid expansion of this market demonstrates the growing demand for blockchain-based yield products. Key products driving this growth include those related to Securitize, Centrifuge, Franklin Templeton, WisdomTree, Ondo Finance, and Superstate.
Tokenized US Treasury bonds have grown into a multi-billion dollar liquidity layer on Ethereum. As idle funds on-chain move to seek returns, a structure has been created that directly competes with stablecoin reserves, money market funds, and short-term ETFs.
Most of the supply is concentrated in a few large products. Products linked to BlackRock's BUIDL fund, along with Ondo's OUSG and USDY, Superstate's USTB, and Franklin Templeton's BENJI, accounted for the main supply. Amid the trend of institutional-grade financial products moving onto the blockchain, Ethereum is solidifying its position as a core foundation for the tokenized Treasury bond market.
Ethereum's dominance was also clear in inter-chain competition. According to rwa.xyz data, Ethereum maintained a significant lead in the tokenized Treasury bond sector. The closest chain after Ethereum, BNB Chain, held $3.4 billion in tokenized Treasury bond value. Solana (Solana, SOL), Stellar (Stellar, XLM), and XRP Ledger each recorded less than $1 billion in tokenized Treasury bond value, showing a significant difference from Ethereum.
The Crypto Basic assessed that these figures reconfirm Ethereum's central position in real-world asset tokenization, especially in the institutional-grade financial product sector. The tokenized US Treasury bond market has emerged as a representative area for bringing traditional finance's safe yield assets on-chain, and Ethereum has established itself as the biggest beneficiary chain of this market expansion.
The market sentiment also acted as a favorable backdrop for the growth of tokenized Treasury bonds. Cryptocurrency market sentiment shifted from cautious to more bullish, and the Crypto Fear & Greed Index rose to 50, indicating a neutral level. The Ethereum-based tokenized US Treasury bond market doubled in six months, demonstrating that on-chain financial demand is expanding beyond specific themes to actual yield-bearing assets.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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