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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/15/2026

Tokenized Treasury Market Hits $14.6B as CEX Volumes Contract

What happened: The market for tokenized U.

Tokenized Treasury Market Hits $14.6B as CEX Volumes Contract

What happened: The market for tokenized U.S. Treasuries reached $14.6 billion, up from under $1 billion in early 2024, while centralized exchange (CEX) spot and derivatives volumes fell over 11% to $4.61 trillion—the lowest since late 2024. BlackRock's BUIDL fund now holds $2.42 billion in assets, and the firm has filed for two additional tokenized funds. The broader tokenized real-world asset (RWA) market has grown 589% since early 2025.

Why it matters: The rapid growth of tokenized treasuries signals increasing institutional adoption of on-chain finance, even as traditional crypto trading activity wanes. While some exchange executives argue the CEX volume drop is cyclical, others see a structural shift as Wall Street and crypto infrastructure converge. The divergence in tracker estimates ($14.6B vs $15.3B) underscores the sector's rapid evolution and data challenges.

Source: CoinDesk