Key Takeaways

Ethereum holds 70% of the tokenized Treasury market. FDIT entered the top 10 with $203 million inflows, while BlackRock’s BUIDL shed $150 million.

Ethereum [ETH] dominated 70% of the tokenized U.S. Treasury market.

In numbers, $5.3 billion in tokenized Treasuries, bonds, and cash equivalents are flowing on Ethereum, accounting for over 70% of the total $7.46 billion tokenized Treasury market.

Now, Fidelity has joined this sector of nearly 50 different tokenized U.S. Treasury offerings with the Fidelity Digital Interest Token (FDIT).

The question is whether FDIT will pump more utility and liquidity into ETH’s DeFi stack. 

Fidelity enters the RWA race

Sure, Fidelity’s making waves, but it’s not the first mover in the RWA game.

The real heavyweight?

BlackRock’s BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which still runs the show, with a solid $2.2 billion market cap in the tokenized Treasury space across multiple networks.

Fidelity’s FDIT, by contrast, dropped solo on Ethereum. Within a short period, it grew to $203.7 million in assets and entered the top 10 Treasury products.

Peep the 7-day flows: BUIDL was bleeding about $150 million, while FDIT was pulling in fresh liquidity left and right. That kind of on-chain rotation cements FDIT’s positioning, even in a crowded tokenized Treasury pool.

In short, FDIT’s drop has seen solid on-chain adoption. Each token represents a share of FYOXX, backed by U.S. Treasuries.

The big

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Author: Ritika Gupta