Solana added $378 million in net inflows to tokenized US Treasury products over 30 days, the largest gain of any blockchain network. The broader tokenized Treasury market reached $16.23 billion, with Ethereum still commanding the largest share.
Solana posted the largest 30-day increase in tokenized US Treasury activity among all blockchain networks, adding $378 million in net inflows. The broader tokenized Treasury market hit $16.23 billion in total distributed value as of August 15, according to data from RWA.xyz. That figure represents a 1.81% increase over the past 30 days, with Solana, Ethereum, and BNB Chain leading the growth.
A widening institutional footprint
BlackRock's BUIDL fund, Ondo Finance's USDY, and Galaxy Digital's SWEEP, which currently holds roughly $161 million, all now operate on Solana. Add in VBILL, and the network has assembled a roster of institutional-grade tokenization products for government debt.
Ethereum still runs the show, but the gap is narrowing
Despite Solana's growth, Ethereum remains the largest network by market share, commanding approximately 43% of the total tokenized Treasury market. BNB Chain sits in second place with around 31.5% market share.
By product, USYC leads with roughly $3.0 billion, followed by BUIDL at approximately $2.7 billion and USDY at around $2.15 billion. The tokenized Treasury market now spans nearly 18 different blockchain networks.
From under $1 billion to $16 billion in two years
In early 2024, the entire tokenized US Treasury market sat below $1 billion. It has since grown to north of $16 billion, a roughly 16x expansion in under 30 months. The broader tokenized real-world assets ecosystem, which includes everything from private credit to real estate, now exceeds an estimated $30 billion to $38 billion in total value. Products like BUIDL and USDY carry transfer restrictions and accredited-investor requirements built into their smart contracts, letting these tokens operate within existing regulatory frameworks.
Source: Crypto Briefing
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