TechFlow, April 26 — According to Cointelegraph, data from RWA.xyz shows that six financial institutions control 88% of the tokenized U.S. Treasury market. BlackRock's BUIDL fund leads with a market cap of $2.5 billion, capturing 41.1% of the entire market—360% more than the second-largest player. Other major participants include Franklin Templeton's BENJI ($707 million), Superstate's USTB ($661 million), Ondo's USDY ($586 million), Circle's USYC ($487 million), and Ondo's OUSG ($424 million). Since the beginning of 2025, BUIDL's market cap has grown by 291%, while the total market cap of tokenized real-world assets reached a record high of $21.3 billion on April 21.
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