According to online reports, RWA.xyz data shows that six entities hold 88% of tokenized U.S. Treasury bonds. The largest issuer of tokenized wealth remains BlackRock. The company's tokenized U.S. Treasury fund, BUIDL, has a market value of $2.5 billion, 360% higher than its closest competitor. The top six funds also include Franklin Templeton's BENJI with a market cap of $707 million;Superstate's USTB with a market cap of $661 million;Ondo's USDY with a market cap of $586 million;Circle's USYC with a market cap of $487 million; and Ondo's OUSG Fund with a market cap of $424 million. These six funds together account for 88% of all tokenized treasury bonds issued.