The value of tokenized U.S.
Treasuries has surged nearly 2.5 times in a year, latest data from rwa.xyz reveals
Treasuries, which stood at $6.51 billion on July 20, 2025, has surged to $15.92 billion within a span of a year. In simple words, tokenization is the process of converting real-world assets (RWAs)—like real estate, stocks, or government bonds—into digital tokens on a blockchain
Each such token represents full or fractional ownership of the underlying asset, offering the exposure to a popular asset with the efficiency of digital assets. Ethereum tops the list As per rwa.xyz, tokenized U.S. government debt, including T-bills, notes, bonds, and Treasury-focused money market funds have a distributed value of $15.92 billion as of July 19. – Circle’s USYC: $2.95 billion – BlackRock’s USD Institutional Liquidity Fund: $2.61 billion – Ondo U.S. Dollar Yield: $2.16 billion – Franklin iBENJI OnChain Institutional Liquidity Fund: $1.63 billion Among the blockchain networks, Ethereum (ETH) tops the list as tokenized U.S.