Tokenized US Treasuries Reach $13.53 Billion in Value

The tokenized US Treasury market has been a major driver of growth in the real-world-asset (RWA) sector, with assets under management reaching $13.53 billion as of April 12, 2026. This represents a significant milestone for the industry, and it is expected to continue expanding in the coming months.

One of the key players in this market is Circle's USYC, which has amassed a total value of $2.67 billion. This is largely due to its appeal among non-US investors, who are drawn to its stability and relatively high yields.

Other notable players in the market include Blackrock's BUIDL, managed through Securitize, and Ondo's USDY, which has a broadly distributed asset base with 16,568 holders. These funds have all achieved significant traction in recent months, with total assets under management reaching $9.31 billion.

The technical details of the tokenized Treasury market are also noteworthy, particularly with regards to its distribution across multiple blockchains. Ethereum remains the dominant network, with a total value of $7 billion, while BNB Chain has established itself as a significant presence with $3.2 billion in assets under management.