Tokenized Treasury Funds—A 566% Leap in 12 Months
Tokenized Treasury funds have emerged as a pivotal force over the past year, experiencing a meteoric 566% rise in value. By March 2024, the market for these digitized Treasuries was around $716 million, a figure that has since soared to an impressive $4.77 billion. Notably, the sector has grown by $720 million since March 4, 2025, showcasing its accelerating momentum.
Much of this recent expansion can be credited to the influence of Blackrock’s BUIDL, issued by Securitize, which has become a cornerstone of this transformative trend. Eight days ago, Bitcoin.com News highlighted BUIDL’s milestone of breaching the $1 billion threshold, with the fund’s holdings pegged at $1.004 billion. Fast forward to March 22, and the fund’s value has climbed to $1.467 billion, reflecting a substantial $463 million uptick.
In the runner-up position, Hashnote’s Short Duration Yield Coin (USYC) fund boasted $868 million in assets under management (AUM) eight days ago, but has since experienced an $84 million reduction. As of this weekend, USYC’s AUM hovers around $784 million. Meanwhile, Franklin Templeton’s Onchain U.S. Government Money Fund has remained steady since our March 14 report, showing no fluctuations.
On a broader note, March has also brought growth to Ondo’s U.S. Dollar Yield (USDY) and Superstate’s Short Duration U.S. Government Securities Fund (USTB), adding further dynamism to the sector. Ondo’s fund grew from $563 million to $593 million and Superstate’s USTB swelled from $310 million to $393 million. Blockchain’s ability to streamline settlement and redemption processes has magnetized a growing influx of capital into this sector, a trend that shows no signs of slowing down.
