Tokenized U.S. Treasuries are continuing to set new highs. Data from rwa.xyz shows that as of April 12, 2026, the sector had reached $13.53 billion, up 0.63% over the past seven days and moving within striking distance of the $14 billion mark. The segment remains the largest part of the broader real-world asset market, which now stands at $29.22 billion.
Institutional products lead the market
The market is increasingly concentrated among large institutional issuers. Circle’s USYC holds the top position with $2.67 billion in value. Blackrock’s BUIDL, managed through Securitize, follows with $2.42 billion. Ondo’s USDY ranks third at $1.88 billion, with 16,568 holders and a reported 3.55% APY. Janus Henderson Anemoy Treasury Fund (JTRSY) and Franklin Templeton’s BENJI complete the top five with $1.32 billion and $1.02 billion, respectively.
Together, these five funds account for $9.31 billion, or 68.8% of the entire tokenized Treasury market. Demand has been supported by the relatively low credit risk of U.S. government debt and the appeal of bringing yield-bearing instruments on-chain. Over the past week, tokenized Treasury products offered an average annual percentage yield of 3.34%.
Multi-chain distribution is expanding
Ethereum remains the dominant blockchain for tokenized Treasuries, hosting $7 billion in value, while BNB Chain has emerged as a strong second with $3.2 billion. Other networks are also gaining traction, including Stellar at $843.8 million and Solana at $829.7 million. XRP Ledger, Plume, and Avalanche continue to serve as additional venues for issuance and distribution, highlighting a broader multi-chain trend.
The ecosystem currently includes 60,893 holders across 74 distinct assets. As stablecoins continue to expand and decentralized finance infrastructure matures, tokenized U.S. Treasuries are becoming one of the clearest examples of how RWAs are being adapted for digital-native markets. The next phase of growth may depend less on headline size and more on deeper integration with DeFi, clearer regulation, and closer links to traditional capital markets.