According to RWA.xyz, Ethereum has emerged as the primary infrastructure for tokenized US Treasuries, with a staggering total exceeding $1 billion. This dominance represents nearly 71% of the market share within this particular sector of the blockchain industry.
Source: RWA.xyz
The substantial growth in this number is largely attributed to the activities of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which has successfully tokenized over $473 million in US Treasuries since March 20th.
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Currently, BUIDL commands nearly 33% of the market share. Despite being limited to just 13 shareholders, BUIDL is exclusively available to qualified institutional investors, who must meet a minimum investment requirement of $5 million.
Source: RWA.xyz
Ondo's Short-Term US Government Bond Fund emerges as the second-largest Ethereum-based initiative for tokenized US Treasuries, successfully digitizing $156 million worth of real-world assets. Additionally, Ondo's U.S Dollar Yield tokenized fund contributes another $95 million to Ethereum's dominance in this sector.
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Furthermore, notable tokenized US Treasuries initiatives include Superstate's Short Duration US Government Securities Fund, Hashnote's Short Duration Yield Coin, and Matrixdock's Short-term Treasury Bill Token, with tokenized volumes amounting to $92.4 million, $62.5 million, and $39.6 million, respectively.
Stellar Emerges as Ethereum's Top Rival in Tokenized US Government Assets
Stellar emerges as the closest competitor to Ethereum in the infrastructure category, boasting a total of $354.8 million in tokenized US government assets.
A significant portion of this volume is attributed to Franklin Templeton’s Franklin OnChain U.S. Government Money Fund, which holds over $348 million in tokenized shares. Additionally, WisdomTree contributes to this amount with its stable $5.5 million Government Money Market Digital Fund.
Read more: Ethereum Price on a Tightrope? Grayscale's Spot ETF Launch Ignites Debate on Price Impact
Noteworthy is the recent uptick in the number of tokenized US Treasuries, which has surged by 9.3% over the past 30 days, as reported by RWA.xyz. The total number of holders increased from 1,785 to 1,952 as of May 28th. The yearly growth is even more remarkable, with the number of holders skyrocketing from 449, reflecting an impressive 334% rise.
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