Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Tokenized Treasury notes passed $2 billion in market cap after rapid growth from Blackrock's BUIDL and other issuers.Less than five months after hitting $1 billion in market capitalization, tokenized Treasury notes have doubled in size again, crossing the $2 billion level on Saturday, according to
Tokenized Treasuries are digital representations of U.S. government bonds that can be traded as tokens on blockchains such as Ethereum, Stellar, Solana, Mantle and others. While $2 billion is an impressive milestone for the recently launched funds, there is far more potential given the Treasury market's massive size of $27 trillion.
The largest one, BlackRock’s USD Institutional Digital Liquidity Fund , is a big factor in this year's soaring market cap. ust six weeks after its late March launch, BUIDL became the largest tokenized Treasury fund at $375 million in market cap. Assets now. Competitors include Franklin Templeton’s OnChain U.S. Government Money Fund and Ondo’s U.S. Dollar Yield , both of which have also seen explosive growth.data shows.
Tokenized Treasury funds have become a popular investment vehicle for crypto traders looking to diversify their holdings and take advantage of the rapid rise in Treasury yields over the past few years while also being able to settle transactions at any time.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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