According to ChainCatcher, citing Cointelegraph, RWA.xyz data shows that six entities hold 88% of tokenized U.S. Treasury tokens. BlackRock remains the largest tokenized wealth issuer. The company's tokenized U.S. Treasury fund BUIDL has a market value of $2.5 billion, which is 360% higher than its closest competitor. The top six funds include:
- Franklin Templeton's BENJI, with a market value of $707 million;
- Superstate's USTB, with a market value of $661 million;
- Ondo's USDY, with a market value of $586 million;
- Circle's USYC, with a market value of $487 million;
- Ondo's OUSG fund, with a market value of $424 million.
These six funds collectively account for 88% of all tokenized Treasury issuance.




