Investors pile $1B into tokenized treasuries during April
Share link:In this post: The total value locked (TVL) in tokenized treasuries grew by $1 billion over the past four weeks. The sector’s TVL now exceeds $6.15 billion, with BlackRock’s BUIDL fund accounting for 41.5% of the total. Superstate’s USTB fund grew by 81% in four weeks over the same period, and could soon overtake Franklin Templeton’s BENJI to become the second-largest tokenized treasury fund.
Tokenized treasuries products enjoyed significant growth during April, with investors injecting more than $1 billion into the sector since April 1.
The funds are enjoying a banner year, with the TVL of tokenized treasuries sitting at nearly $6.16 billion after jumping 78% from late January’s local low of $3.47 billion.
TVL of tokenized treasuries. Source: rwa.xyz.
BUIDL’s dominance grows
The dominance of BlackRock’s BUIDL fund continues to grow, driving 64% of inflows over the past 30 days with $621.7 million , according to rwa.xyz. BUIDL now boasts a TVL of nearly $2.56 billion and accounts for 41.5% of the sector’s combined TVL.
BUIDL’s TVL is up 303% from $635.7 million on January 22, while its dominance over the sector has more than doubled from 18.3% over the same period.
Despite BUIDL expanding onto new chains in recent months, Ethereum accounts for more than 95% of the fund’s TVL with almost $2.44 billion. BUIDL went live on Aptos, Arbitrum, Avalanche, OP Mainnet, and Polygon on November 17 and deployed on Solana on March 25. Each alternative chain hosts between $20 million and $55 million in TVL.
BUIDL TVL. Source: rwa.xyz.
While Larry Fink, BlackRock’s CEO, praised tokenization as a vehicle for democratization in his annual letter to shareholders published on March 31, only four wallets hold nearly 80% of BUIDL’s assets.
Superstate’s USTB emerges among leading tokenized treasuries funds
Superstate’s USTB fund continues to climb the tokenized treasuries rankings. The fund now boasts a TVL of $652.6 million after growing by $292 million or 81% in 30 days. USTB’s TVL is also up 182% since the start of the year.
USTB TVL. Source: rwa.xyz
USTB is rapidly closing in on Franklin Templeton’s BENJI fund, which ranks as the sector’s second-largest product with $707.8 million. BENJI’s TVL has trended sideways since March, growing by just 4.39% in the past six weeks.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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