The tokenized US Treasury market had a market capitalization of under $4 billion at the start of 2025 and has been gradually rising.
The tokenized US Treasury market has surged by over $1 billion since the beginning of 2026, despite macroeconomic uncertainty and concerns over the US government’s growing national debt.
Tokenized US Treasurys are government debt instruments that are a form of real-world assets (RWAs) represented onchain by a token.
The market capitalization of tokenized Treasurys climbed to more than $10.8 billion at the time of writing from $8.9 billion on Jan. 1, according to data from RWA.xyz.
