Six funds hold 88% of U.S. tokenized bonds:

BUIDL (BlackRock) - $2.5B,

BENJI (Franklin Templeton) - $707M,

USTB (Superstate) - $661M,

USDY (Ondo) - $586M,

USYC (Circle) - $487M,

OUSG (Ondo) - $424M.