Tokenized Treasuries Idle as Stablecoins Dominate Market

The tokenized Treasury market has reached $12 billion in value, but most of it is simply being held and not actively traded.

A report from Pantera Capital found that 81% of the value of tokenized Treasuries is sitting idle, with only a small fraction changing hands in the secondary market.

The total market value of tokenized assets has grown to $321 billion, up 60% from last year's $201 billion. However, most of these assets are classified as 'wrappers', which are essentially blockchain receipts for assets that still exist off-chain.

Stablecoins dominate the market, making up around 91% of the total value with a staggering $293 billion. Tokenized US Treasuries come in second at around $12 billion, driven largely by institutional products from BlackRock and Franklin Templeton.