Onchain Assets · 02 / 7
Government debt and money funds as tokens
Tokens representing shares of funds that hold short-term US government debt, repo and cash. They pay money-market yield onchain and are used as treasury assets and collateral.
Market cap · live
$9.5B
CoinGecko category: tokenized-treasuries
Largest
Circle USYC · USYC
25% of the category · $2.4B
Registered fund
A regulated fund whose share register is onchain.
Private fund
Qualified purchasers only, with transfer restrictions.
Yield-bearing note
A debt instrument for non-US holders.
Ranked by market cap, live from CoinGecko.
| # | Name | Market cap | Share | 24h |
|---|---|---|---|---|
| 01 | Circle USYC · USYC | $2.4B | 25.3% | +0.0% |
| 02 | Ondo US Dollar Yield · USDY | $2.4B | 24.9% | -0.0% |
| 03 | BlackRock USD Institutional Digital Liquidity Fund · BUIDL | $2.2B | 23.1% | +0.0% |
| 04 | Invesco Short Duration US Government Securities Fund · USTB | $818M | 8.7% | -0.1% |
| 05 | Spiko EU T-Bills Money Market Fund · EUTBL | $640M | 6.8% | -0.0% |
| 06 | Janus Henderson Anemoy Treasury Fund · JTRSY | $327M | 3.5% | +0.0% |
| 07 | Ondo Short-Term U.S. Government Bond Fund · OUSG | $320M | 3.4% | +0.0% |
| 08 | Spiko US T-Bills Money Market Fund · USTBL | $165M | 1.7% | +0.0% |
Eligibility
Most products are limited to qualified or non-US investors.
Redemption timing
Fund redemptions can follow market hours.
Smart contract and custody
Both the token and the fund's custody must hold up.
On Tempo
Tempo Earn vaults can hold US Treasuries, letting stablecoin balances earn government yield inside an app.