$1b Tokenized US Treasury Bonds Surpass Value on Ethereum

IconCryptoNewsTerminal Staff29 May, 2024

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$1b Tokenized US Treasury Bonds Surpass Value on Ethereum

Real-world asset (RWA) tokenization platform, RWA.xyz, reports that tokenized US Treasury bonds issued on the Ethereum (ETH) network have exceeded $1 billion as of January 29th, reflecting a significant surge in tokenized bond adoption. BlackRock's Ethereum-based tokenized fund, BUIDL, notably comprises about 33% of the total, despite having just 13 shareholders. With a $5 million minimum investment, the fund's size is estimated to be substantial. Ondo Finance, another major player, contributes to the tokenized Treasury bond market with its offerings. Ondo's tokenized US short-term Treasury bonds are the second largest on the Ethereum network, tracking approximately $156 million of short-term US Treasuries. The increasing popularity of tokenized Treasury bonds is reflected in the expanding number of bondholders. In the past 30 days, the number of tokenized US Treasury bond holders has surged by 334%, from 449 to 1,952, indicating a growing acceptance and trust in this innovative financial instrument.

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