OnChain Benchmark Tokenized treasuries
Funds holding short-duration US government debt, issued as onchain tokens. The largest category of tokenized real-world assets, and the one institutions allocate to first.
Measured onchain
$12.4B
4.2% of all capital OnChain Benchmark measures
Instruments
24
from 19 issuers
Chains
21
led by BNB Chain
The evidence
24 instruments with measured capital in tokenized treasuries.
Ondo Finance issues 22% of this class. 19 issuers in total; the rest share 78%.
Where it lives
BNB Chain holds 36% of this class.
Split across 21 chains we measure. Each links to that chain's own page.
Capital over time
tokenized treasuries capital, measured daily.
Outstanding capital measured on each chain, every day since we began the daily series. Pick a window to zoom the period; the top chains carry their own band and the rest fold into “Other.”
OnChain Benchmark · Tokenized treasuries
Tokenized treasuries capital by chain
Coverage
What this figure includes.
An instrument counts when its supply is read onchain and valued at a live price.
13 instruments are catalogued but not counted here — mostly not yet read onchain at a live price.
