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📊 U.S. Treasuries still make up the biggest piece of the tokenization market, but that dominance is slowly declining as investors allocate capital across a broader range of assets.
At the beginning of 2025, U.S. Treasuries accounted for 62% of the tokenized asset market. By June 2026, that share has fallen to 46%.
Meanwhile, tokenized credit has roughly tripled in market share to 19%, from 6.5% at the beginning of 2025. Asset-backed credit went from 1.4% to 6.7%, with corporate credit going from 0.5% to 5.4% in the same time period.