Market Cap of Tokenized US Treasury Securities Exceeds $1B Growth in Early 2026
Starting 2025 with a market capitalization below $4 billion, the tokenized US Treasury sector has experienced consistent upward momentum.
Since the start of 2026, the market for tokenized US Treasury securities has experienced growth exceeding $1 billion, even as macroeconomic volatility persists and worries mount regarding the expanding national debt burden of the United States government.
Government debt instruments issued by the US Treasury become tokenized US Treasurys when they take the form of real-world assets (RWAs) that are digitally represented on blockchain networks through tokens.
Data sourced from RWA.xyz indicates that the overall market capitalization for tokenized Treasury securities has risen to exceed $10.8 billion as of this writing, up from the $8.9 billion valuation recorded on Jan. 1.
Data from Token Terminal reveals that the tokenized US Treasury sector has experienced a 50-fold increase since 2024, with significant contribution from the March 2024 launch of BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), an asset management product that currently holds a market capitalization exceeding $1.2 billion.
Even as the broader cryptocurrency market entered a downturn that commenced in October 2025, tokenized US Treasury securities have maintained their upward trajectory, undeterred by escalating US government debt levels and prevailing investor concerns surrounding the macroeconomic environment anticipated for 2026.
The Depository Trust and Clearing Corporation to launch US Treasury tokenization service
In December 2025, The Depository Trust and Clearing Corporation (DTCC), an organization that delivers clearing and settlement infrastructure for financial markets worldwide, revealed its intention to introduce a tokenization service for assets, starting with US Treasury securities.
According to CEO Frank La Salla, DTCC has plans to progressively extend this service to encompass a "broad spectrum" of different asset classes.
Following the tokenization of US Treasurys on the Canton network, DTCC anticipates that exchange-traded funds (ETFs) and equities will come shortly thereafter.
Frank La Salla, DTCC CEO
As the world's largest clearinghouse, the DTCC processed settlement volumes totaling $3.7 quadrillion throughout 2024, based on figures released by the company.
The deep liquidity characteristic of the US Treasury market has established US Treasurys as fundamental pillars supporting both global and corporate financial systems.
Short-duration Treasury securities, those with maturity periods of one-year or less, serve as cash equivalents for corporations and institutional investors in their financial operations.
Advocates of blockchain technology suggest that the expanding market for tokenized US Treasury securities and other forms of US government debt instruments could generate substantial revenue streams for the blockchain platforms where these tokenized assets are created and issued.