Which chain has the most VBILL?

The live supply-by-chain figures on this page rank the chains by how much VBILL sits on each. VBILL is one of the more evenly balanced tokenized Treasury funds, so no single chain dominates. 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 VBILL'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.

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 spread evenly across chains, as VBILL is, touches more venues than one concentrated on a single chain — a structural property of the token a single-chain explorer can't reveal.

Is VBILL 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.

OCB Reference/Market

What chains is VBILL on, and how much sits on each?

VanEck's tokenized US T-bill fund is one of the most evenly balanced across chains there is. Here is VBILL's supply by chain, measured live — and why the spread is worth knowing.

OnChain Benchmark · Reference · figures update live

The short answer

VBILL — VanEck's BVI-domiciled tokenized US Treasury-bill fund, distributed via Securitize — is issued as the same fund across several blockchains, and unlike most tokenized funds its supply isn't concentrated on one home chain. It's one of the more evenly balanced tokenized Treasury funds there is. The live breakdown below shows how much of VBILL'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. VBILL 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 VBILL on" is really two questions: which chains, and — the more useful one — how much on each.

How is VBILL's supply split across chains?

Here is VBILL'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:

VBILL supply by chainLive

Ethereum$21.68M37.5%

BNB Chain$21.55M37.2%

Solana$13.96M24.1%

Avalanche$704.27K1.2%

Measured supply by chain · read live

Why does a balanced split matter?

A fund concentrated on one chain lives or dies by that chain's liquidity and tooling. A fund like VBILL, spread more evenly, touches more venues and carries more bridging — its redemption and collateral activity isn't anchored to a single ecosystem. Whether that breadth is a strength or a complication depends on the holder, but either way it's a structural fact about the token that a per-chain explorer, looking at one deployment, will never show you.

How does this relate to VBILL's rating?

The cross-chain distribution feeds the holder-concentration and supply picture that goes into VBILL'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.

Questions & answers

What chains is VBILL on?: VBILL — VanEck's BVI-domiciled tokenized US Treasury-bill fund, distributed via Securitize — 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 VBILL's measured supply sits on each chain, aggregated across every deployment and read from current onchain data.
Which chain has the most VBILL?: The live supply-by-chain figures on this page rank the chains by how much VBILL sits on each. VBILL is one of the more evenly balanced tokenized Treasury funds, so no single chain dominates. 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 VBILL'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.
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 spread evenly across chains, as VBILL is, touches more venues than one concentrated on a single chain — a structural property of the token a single-chain explorer can't reveal.
Is VBILL 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