Tokenized Treasuries Near $6B Milestone, Led by BlackRock

The value of blockchain-based U.S. Treasuries is closing in on a new milestone, with total holdings approaching $6 billion.
These tokenized instruments, which mirror traditional government bonds but operate on public blockchains, are gaining rapid traction among institutional investors.
According to data from real-world asset platform RWA.xyz, the total value locked (TVL) in tokenized treasuries has surged from $4.01 billion in January to approximately $5.95 billion—around 40% increase in just a few months.
This sharp growth signals increasing institutional confidence in blockchain’s potential to modernize fixed-income markets, bringing transparency, efficiency, and global access to what has traditionally been a legacy financial product.
BlackRock’s BUIDL Leads the Charge
Dominating the space is BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which now manages $2.47 billion—about 42% of the entire tokenized treasury market. In just the past month, BUIDL’s value jumped 92%, reflecting its aggressive expansion and investor interest.
Ethereum remains the fund’s blockchain of choice, holding more than 91% of BUIDL’s assets—around $2.3 billion in tokenized treasuries.
Institutional Momentum Continues
As tokenized assets mature and real-world applications expand, blockchain-based treasuries appear poised to reshape fixed-income investing. With the $6 billion mark now within reach, the sector could soon set new records—cementing its role in the evolving digital asset landscape.