Tokenized US Treasury market cap
The live size of the tokenized US Treasury market, the yield-bearing dollar assets competing directly with stablecoins.
How big is the tokenized treasury market?
$21.67B
across 48 tokenized treasury products
Tokenized US Treasuries total $21.67B across 48 products. These are NAV-accruing tokens: the price rises with accrued yield by design, so they should never be read as depegged stablecoins, as of 02 Oct 2026 (usd.net).
Formula: Tokenized US Treasury market cap is computed live from the treasuries & rwa dataset (treasury token market cap, token count, issuer).
Sources: Treasuries & RWA · updated 8 min ago
Largest tokenized treasury products
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Largest tokenized treasury products
| Product | Market cap |
|---|---|
| BLACKROCK BU · BlackRock BUIDLBlackRock BUIDL | $3.60B |
| CIRCLE USYC · Circle USYCCircle USYC | $2.78B |
| ONDO · Ondo Yield AssetsOndo Yield Assets | $2.54B |
| SPIKO · SpikoSpiko | $2.48B |
| CFG · Centrifuge ProtocolCentrifuge Protocol | $1.64B |
| WISDOMTREE · WisdomTreeWisdomTree | $1.03B |
| BCAP · Blockchain CapitalBlockchain Capital | $960.20M |
| ONDO · Ondo Global MarketsOndo Global Markets | $937.00M |
| ANEMOY CAPIT · Anemoy CapitalAnemoy Capital | $870.73M |
| INVESCO USTB · Invesco USTBInvesco USTB | $646.91M |
Cite this figure
Source: usd.net — Tokenized US Treasury market cap. https://usd.net/stats/tokenized-treasury-market-cap