Chains / Ethereum
Tokenized capital measured on Ethereum
$174.00B
56.5% of all measured capital51 instruments41 issuers
As of 2026-07-30, OnChain Benchmark measures $174.00B of tokenized capital on Ethereum, across 51 instruments from 41 issuers. Every figure is read from the chain — nothing is estimated.
01 · Tokenized treasuries
$6.03B — 3.5% of Ethereum
15 instruments
02 · Stablecoins
$163.28B — 93.8% of Ethereum
24 instruments
| Instrument | Measured on ETH | Share of chain |
|---|---|---|
USDTTether USD Tether | $92.06B | 52.9% |
USDCUSD Coin Circle | $49.50B | 28.5% |
USDSSky Dollar Sky (formerly MakerDAO) | $6.54B | 3.8% |
03 · Commodities
$4.24B — 2.4% of Ethereum
3 instruments
| Instrument | Measured on ETH | Share of chain |
|---|---|---|
XAUTTether Gold Tether | $2.45B | 1.4% |
PAXGPAX Gold Paxos | $1.77B | 1.0% |
XAUMMatrixdock Gold matrixdock | $22.79M | 0.0% |
04 · Watchlist
$444.69M — 0.3% of Ethereum
9 instruments
Coverage
What this figure does — and doesn’t — include.
We count a deployment only when we can read its supply on-chain andvalue it with a real price. Anything we can’t stand behind is left out of the total rather than estimated — so this figure is a floor, not a guess.
Excluded on Ethereum — 8 instruments
CASHXBlackRock ICS US Dollar Liquidity Fund (Kaio Tokenized)
priced at a placeholder $1 rather than a real NAV read — excluded rather than publish a fabricated figure
CUMBUChinaAMC USD Digital Money Market Fund Class B
priced at a placeholder $1 rather than a real NAV read — excluded rather than publish a fabricated figure
CUMFUChinaAMC USD Digital Money Market Fund Class F
priced at a placeholder $1 rather than a real NAV read — excluded rather than publish a fabricated figure
CUMIUChinaAMC USD Digital Money Market Fund
priced at a placeholder $1 rather than a real NAV read — excluded rather than publish a fabricated figure
EUTBLSpiko EU T-Bills Money Market Fund
denominated in a non-USD currency; we do not convert FX here, so it is excluded rather than counted at the wrong USD value