By Allium Research
Tokenized US Funds Onchain: $14.2B and Compounding
Onchain Research · Ecosystem Report · June 2026 · By Elton Shehdula
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.
By Elton Shehdula, Research Lead @Allium Labs
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