OCB Reference/Market
What chains is EUTBL on, and how much sits on each?
Spiko's euro-denominated Treasury-bill fund is one of the few tokenized funds whose supply sits mostly away from Ethereum. Here is EUTBL's supply by chain, measured live — and why the spread is worth knowing.
OnChain Benchmark · Reference · figures update live
EUTBL — Spiko's AMF-regulated, euro-denominated tokenized EU Treasury-bill money-market fund — is issued as the same fund across several blockchains, and its supply is spread unevenly among them. What makes EUTBL unusual is where that supply sits: unlike most tokenized funds, the majority of EUTBL is not on Ethereum. The live breakdown below shows how much of its measured supply is on each chain, read from current onchain data and aggregated across every deployment — a cross-chain view no single-chain explorer can give you.
A tokenized fund isn't pinned to one chain the way a traditional fund is pinned to one registrar. EUTBL is issued as the same fund across multiple blockchains, and the amount on each moves as holders mint, redeem, and bridge. So "what chains is EUTBL on" is really two questions: which chains, and — the more useful one — how much on each.
How is EUTBL's supply split across chains?
Here is EUTBL's measured supply by chain, read live. Each figure is decimals-normalized supply in USD terms from the same onchain measurement the fund's instrument page uses — so this split reconciles with the published fund figures rather than a separate estimate:
Measured supply by chain · read live
Why isn't most of EUTBL on Ethereum?
Most tokenized Treasury funds carry the bulk of their supply on Ethereum, where the deepest institutional tooling and liquidity sit. EUTBL is a counterexample: its holders have concentrated the fund on the chains where their own activity lives, not on the token's original home. That is a structural fact about how a fund is actually used — where redemption, collateral, and liquidity activity concentrate — and it's the kind of thing a per-chain explorer, looking at one deployment, will never surface.
How does this relate to EUTBL's rating?
The cross-chain distribution feeds the holder-concentration and supply picture that goes into EUTBL's quality rating. Concentration and supply are measured across all chains together, so the aggregate rating already accounts for the full multi-chain footprint; the per-chain split here is the "where" that sits underneath those numbers. For the wider view of which chains hold the most tokenized RWA overall, see which blockchain has the most tokenized RWA.
- What chains is EUTBL on?
- EUTBL — Spiko's AMF-regulated euro-denominated tokenized EU Treasury-bill money-market fund — is issued as the same fund across several blockchains, with its supply spread unevenly among them. The live per-chain breakdown on this page shows how much of EUTBL's measured supply sits on each chain, aggregated across every deployment and read from current onchain data.
- Which chain has the most EUTBL?
- The live supply-by-chain figures on this page rank the chains by how much EUTBL sits on each. Unusually for a tokenized Treasury fund, the majority of EUTBL's measured supply is not on Ethereum. The split shifts as holders mint, redeem, and bridge, so the current measured figures — read live from onchain data — are the accurate answer.
- How is EUTBL's supply measured across chains?
- As decimals-normalized supply in USD terms per chain, taken from the same authoritative by-chain rollup the fund's instrument page uses. Multiple deployments on one chain are summed into that chain's total, and chains with no measured supply are shown as not measured rather than as zero, so the split reflects real measured supply.
- Why does it matter which chains a tokenized fund is on?
- Where a fund's supply sits shapes where its redemption, collateral, and liquidity activity concentrate, and how much bridging exposure it carries. A fund whose supply has migrated away from its original chain, as EUTBL's has, is telling you where it's actually used — a structural property of the token a single-chain explorer can't reveal.
- Is EUTBL the same fund on every chain?
- Yes — it's issued as the same fund across its chains, and OnChain Benchmark aggregates supply and holder concentration across all of them for a single view. The per-chain split shows how that one fund's supply is distributed, while its rating and concentration are measured across all chains together.
Last reviewed Sep 9, 2026 · figures read live