Who’s Really Controlling 88% of Tokenized U.S. Treasuries? You Might Be Surprised!

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  • BlackRock’s BUIDL has grown by a jaw-dropping 291% from January 1st to April 26th, 2025. Hold your hats!
  • Six players—BUIDL, BENJI, USTB, USDY, USYC, and OUSG—now own 88% of all tokenized U.S. treasuries. Talk about monopoly, huh?

Well, well, well… Amidst the glittering boom of tokenized assets, it looks like only a select few are calling the shots. No surprises there—big fish swim fast in these waters.

According to the fine folks at rwa.xyz (probably sipping coffee in some swanky office), tokenized U.S. Treasuries are now strutting at an all-time high of $6.16 billion in value. Yes, you read that right—six. Point. One. Six. Billion. 💰

These Six Fancy Names Own 88% of Tokenized U.S. Treasuries

In January 2025, tokenized U.S. treasuries were just $4.01 billion. But in the blink of an eye, they surged by over 53%, landing at a whopping $6.16 billion. Who’s behind the wheel of this high-speed train?

Here’s the juicy bit: a whopping 88% of all these fancy digital bonds are controlled by just six players. Who are they? Buckle up:

  • BlackRock’s BUIDL—$2.5 billion (I’d say they’re the elephant in the room, but they’d probably own the room too)
  • Franklin Templeton’s BENJI—$706.78 million (small, but mighty)
  • Superstate’s USTB—$652.32 million (the underdog, don’t count them out)
  • Ondo’s USDY—$586 million (steady, like your grandpa’s savings bond)
  • Circle’s USYC—$487 million (how cute, it’s almost at half a billion)
  • Ondo’s OUSG—$424 million (yeah, they’re hanging in there too)

These six funds are the real kings of the hill, controlling nearly 9 out of every 10 tokenized U.S. treasuries in existence. No one else even comes close.

Superstate’s USTB—A Real Growth Story

Superstate’s USTB isn’t just sitting on its laurels. It’s been flexing those muscles, growing by 57.99% in the last thirty days. Nice work if you can get it, huh?

And then, of course, we have BlackRock’s BUIDL. This little champ has exploded by a staggering 291% since January 1st, 2025. Now it controls a cool 41% of the whole market. You’d think they were printing money over there, right? 😏

The data reveals Ethereum is BUIDL’s favorite playground, hosting 91% of its supply. We’re talking nearly $2.3 billion in Ethereum alone. And don’t forget about Aptos, Avalanche, and Polygon, throwing in their little contributions like sidekicks in a superhero movie.

Launched just last March, BUIDL’s daily dividends come straight from short-term U.S. Treasury investments. Imagine Treasury-like returns with the cool, calm vibes of a stablecoin. Can you say “secure investment”?

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2025-04-27 11:12