Tokenized US funds hold $14.2B onchain

Key takeaways

1. Tokenized US money-market and Treasury fund AUM reached $14.2B in June 2026, up roughly 8x in 24 months.
2. Four issuers hold 76% of the market: Hashnote ($2.96B), Ondo Finance ($2.84B), Franklin Templeton ($2.49B) and BlackRock ($2.43B).
3. Ethereum holds half of all AUM ($7.1B) across just 2,129 wallets.
4. 39,316 distinct wallets hold a tokenized US fund, clustered on Arbitrum (12,571), Solana (8,703) and Sui (6,318).
5. Treasury and government-bond funds are $10.7B (75%) of AUM; money-market funds are $3.5B (25%).

Tokenized US money-market and Treasury funds now hold $14.2B in onchain AUM, up roughly 8x in 24 months from $1.7B. Two products split the market: Treasury and government-bond wrappers ($10.7B, 75%) and registered money-market funds ($3.5B, 25%), both backed by short-dated US government paper that passes a Treasury-bill yield through to the holder. This report maps the full market as of June 2026, covering all 30 issuers, 48 funds and 19 chains. Four issuers hold 76% of the dollars (Hashnote $2.96B, Ondo $2.84B, Franklin Templeton $2.49B, BlackRock $2.43B), yet the money and the people sit apart: Ethereum carries 50% of AUM across fewer than 2,200 wallets, while the 39,316 retail holders cluster on Arbitrum, Solana and Sui, and 84% of located wallets sit outside the Americas.

Informational only. Not investment advice.