TVL of U.S. government bonds reaches a new record of $7.42 billion

The total value locked (TVL) in U.S. government bonds reached $7.42 billion on August 23, surpassing the previous record of $7.41 billion in July, according to data from rwa.xyz. This is a sign of strong demand for on-chain bond products as investors seek safe assets, yields, and liquidity.

Currently, there are 49 crypto bond products with an average yield of 4.09% and over 52,600 wallets holding them. The largest fund remains BlackRock's BUIDL ($2.38 billion), followed by WisdomTree's WTGXX ($931 million) and Franklin Templeton's BENJI ($748 million). Ondo's products also feature with OUSG ($732 million) and USDY ($688 million).

Ethereum leads in infrastructure with $5.3 billion TVL, followed by Stellar, BNB Chain, Solana, and other networks. The 30-day cash flow shows WTGXX attracting $444 million, while BENJI experienced a withdrawal of $103 million.

This trend confirms that crypto government bonds continue to be a rapidly growing segment in real asset finance (RWA).