Ethereum Tokenized Treasuries Reach Record Market Cap

Tokenized U.S. Treasuries on Ethereum have reached an all-time high market capitalization of $8 billion, according to data from Token Terminal. This milestone represents a significant growth in the sector, with some products experiencing accelerated expansion after passing the $4 billion mark.

The chart shows that the market has been steadily growing since early 2023, but experienced a faster acceleration from late 2024 into 2026. The main drivers behind this growth include BUIDL from Securitize, JTRSY from Centrifuge, and other key products.

Token Terminal's data also highlights that the market has risen by about 100% over the past six months, indicating a strong demand for blockchain-based Treasury products. Investors are increasingly using tokenized funds for yield, settlement, and on-chain collateral.