BeInCrypto Research: Tokenized US Treasuries Only RWA Class at Production-Grade Maturity

Tokenized US Treasuries are the only real-world asset (RWA) class to reach production-grade maturity, BeInCrypto Research said in its “Real State of Tokenization in 2026” report. According to BeInCrypto, the study tracked roughly $60 billion in tokenized RWAs across more than 7,000 products and 12 asset classes, finding fast growth but an uneven, concentrated market. Tokenized US Treasury debt totaled about $15 billion across 100 assets, with 16 products above $100 million and 99% “distributed” on public blockchain rails; key products include Circle’s USYC, Ondo’s USDY, Franklin Templeton’s iBENJI, and WisdomTree’s WTGXX.