21co analyst Tom Wan believes tokenized US treasuries will hit $3 billion by the end of 2024 amid rising adoption among DeFi projects and Decentralized Autonomous Organizations (DAOs).
According to Wan, the trend is driven by a need for diversification and stability, especially as high interest rates make these assets attractive.
Currently, there are over 15 tokenized US Treasury products available on Ethereum Virtual Machine (EVM) chains, managing nearly $2 billion in assets under management (AUM).
Rising adoption
Wan said DeFi projects are increasingly diversifying their treasuries to incorporate tokenized US Treasuries and stablecoins — signaling a major shift toward real-world assets (RWAs) within the crypto ecosystem.
Notable examples include Arbitrum and MakerDAO, which have allocated $27 million and $1 billion, respectively, to these yield-bearing products. These investments are part of a broader strategy to provide risk-free…
