Composite score of institutional adoption of tokenized U.S. Treasuries
May 2026 reading · v1.1
AUM Growth
3-month
Holder Growth
3-month
Concentration
3-month trend
Dormancy
3-month trend
Transfer Activity
30d vs 3m avg
Breadth
products + chains
Source: Supabase (index_readings) · Refreshed Sep 22, 03:04 AM UTC
Total AUM
$2.10B
Ethereum mainnet, NAV-adjusted
Total Holders
1,505
Distinct addresses with positive balance
Avg Dormancy
56.6%
Trailing 90d, as of Sep 21
Index dormancy factor uses month-end snapshots
Active Products
5
Ethereum mainnet (v1 coverage)
Source: Dune Analytics · Supabase (classifications) · Refreshed Sep 22, 03:04 AM UTC
Tokenized U.S. Treasury funds tracked on Ethereum mainnet
| Fund | Issuer | AUM (Ethereum) | NAV | Holders | Concentration | Dormancy | Chain |
|---|---|---|---|---|---|---|---|
BUIDLBlackRock USD Institutional Digital Liquidity Fund | BlackRock | $210.2M as of Sep 2026 | $1.0000 stable $1 | 96 | 69.1% | 47.9% | Ethereum |
OUSGOndo US Government Bond | Ondo Finance | $131.3M as of Sep 2026 |
Sum of NAV-adjusted on-chain supply across all tracked products (Ethereum mainnet)
as of Jul 2026
| 49 |
79.6% |
| 52.8% |
| Ethereum |
USDYOndo US Dollar Yield | Ondo Finance | $1.18B as of Sep 2026 | $1.1403 as of Jul 2026 | 1,237 | — | 82.6% | Ethereum |
USTBInvesco Short Duration US Government Securities Fund | Invesco | $528.7M as of Sep 2026 | $11.13 as of Jul 2026 | 91 | 60.1% | 7.0% | Ethereum |
USYCHashnote US Yield Coin | Circle | $42.3M as of Sep 2026 | $1.1318 as of Jul 2026 | 32 | 95.3% | 0.7% | Ethereum |
† AUM figures reflect Ethereum mainnet supply only. BUIDL, OUSG, USDY, USTB, and USYC are deployed across multiple chains; multi-chain coverage is deferred to v1.1. NAV prices are hardcoded and refreshed monthly — see methodology.
Source: Dune Analytics (supply) · Supabase (holders, behavior) · Refreshed Sep 22, 03:04 AM UTC
Source: Dune Analytics (query 7696914) · Refreshed Sep 22, 03:04 AM UTC