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OCB — Reports

Findings from the on-chain record.

Data journalism from OCB's own pipeline — 62 instruments across 13 chains, read daily. Every number is independently reproducible on-chain.

Sun, Jul 12, 2026
Updated daily · 23:30 UTC close
Featured reportTokenized Treasuries · Jul 12

One Afternoon, One Wallet, a Quarter of a Chain's Supply: What On-Chain Measurement Shows About Tokenized Treasuries.

On June 22, a single holder moved roughly US$46 million of Ondo's OUSG off Ethereum in one motion — about a quarter of the fund's supply on that chain. It's a clean illustration of how tokenized Treasuries are actually held: by a small set of large institutions, where one participant's decision is visible, in public, the moment it happens.

Moved off Ethereum, one walletUS$46M
Share of chain supply, one move25%
Held by top 10 wallets71%
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08:24 UTCTokenized Treasuries
One Afternoon, One Wallet, a Quarter of a Chain's Supply: What On-Chain Measurement Shows About Tokenized Treasuries.
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Sun, Jul 12, 20261 report
08:24Tokenized TreasuriesethereumOne Afternoon, One Wallet, a Quarter of a Chain's Supply: What On-Chain Measurement Shows About Tokenized Treasuries.A single wallet moved about a quarter of OUSG's Ethereum supply in an afternoon — the kind of move a concentrated, institutional holder base makes possible. And OUSG is one of the LESS concentrated funds in its category: against a tokenized-Treasury median near 99% in the top-ten wallets, its 71% sits at the diversified end. The story isn't one fund; it's a young category whose real structure is, for the first time, legible on-chain.25%Moved in one motion→
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