TechFlow News — According to Bitcoin.com, the total market capitalization of tokenized U.S. Treasury bonds has surpassed $4.07 billion, rising by $1.57 billion over the past 103 days, indicating accelerating institutional adoption. Data from rwa.xyz shows that the average annual percentage yield (APY) for tokenized Treasury products currently stands at 4.2%. The number of holders has nearly doubled in just over three months—from 8,754 to 15,463—spread across 37 tokenized Treasury funds. This influx of capital and surge in participants signals that the tokenized Treasury market is transitioning from a niche experiment into a mainstream financial product.
Hashnote Short Duration Yield Coin (USYC) currently dominates the sector, with its market cap growing from $495.07 million on November 26 last year to $956.27 million today—an increase of $461.2 million. Trailing closely is Franklin Templeton’s on-chain fund, Franklin Onchain U.S. Government Money Fund (FOBXX/BENJI), whose market cap has risen by $270.35 million to reach $686.8 million. BlackRock's tokenized offering, Blackrock USD Institutional Digital Liquidity Fund (BUIDL), ranks third, with its market cap increasing from $530.29 million to $668.41 million. Together, these top three funds account for 56.78% of the total tokenized Treasury market value.
