According to TechFlow news on August 25, and data from Token Terminal, as of July 2025, Ondo Finance ranks second among tokenized fund issuers, second only to BlackRock.
BlackRock has become the largest issuer through its approximately $2.4 billion BUIDL money market fund. The total assets under management (AUM) of the tokenized fund market have reached $7.5 billion, and the market has begun to show accelerated growth starting in the second half of 2024.
