OCB Reference/Market
What chains is USTBL on, and how much sits on each?
Spiko's US Treasury-bill fund reaches across five chains with a long tail — more distributed than most tokenized funds. Here is USTBL's supply by chain, measured live — and why the spread is worth knowing.
OnChain Benchmark · Reference · figures update live
USTBL — Spiko's AMF-regulated tokenized US Treasury-bill money-market fund, audited quarterly by PwC — is issued as the same fund across several blockchains, and its supply is spread unevenly among them. What stands out is how distributed that footprint is: USTBL reaches across five chains with a long tail behind its leading one, more spread out than most tokenized funds. The live breakdown below shows how much of USTBL's measured supply sits 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. USTBL 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 USTBL on" is really two questions: which chains, and — the more useful one — how much on each.
How is USTBL's supply split across chains?
Here is USTBL's measured supply by chain, read live. Each figure is decimals-normalized USD supply 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 does a distributed footprint matter?
A fund whose supply is spread across several chains, rather than anchored to one, has its redemption, collateral, and liquidity activity distributed across ecosystems too. That breadth means more venues to account for and more bridging exposure than a single-chain fund carries — the kind of structural fact about a token that a per-chain explorer, looking at one deployment, will never surface. USTBL is Spiko's US-denominated fund; its euro-denominated sibling has a different footprint again — see what chains is EUTBL on.
How does this relate to USTBL's rating?
The cross-chain distribution feeds the holder-concentration and supply picture that goes into USTBL'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 USTBL on?
- USTBL — Spiko's AMF-regulated tokenized US Treasury-bill money-market fund — is issued as the same fund across several blockchains, with its supply spread unevenly among them and reaching across five chains with a long tail. The live per-chain breakdown on this page shows how much of USTBL's measured supply sits on each chain, aggregated across every deployment and read from current onchain data.
- Which chain has the most USTBL?
- The live supply-by-chain figures on this page rank the chains by how much USTBL sits on each. USTBL's footprint is unusually distributed, so the leading chain holds a smaller share than for most tokenized funds. 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 USTBL's supply measured across chains?
- As decimals-normalized USD supply 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.
- How is USTBL different from EUTBL?
- Both are Spiko tokenized Treasury-bill money-market funds, but USTBL is US-dollar-denominated and holds US T-bills, while EUTBL is euro-denominated and holds EU Treasury bills. They also have different cross-chain footprints — the per-chain split on each page shows where each one's supply actually sits.
- Is USTBL 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