Tokenized U.S. Treasuries on-chain

1. What we count, and what we leave out

We count tokens that are shares in funds, or notes, holding U.S. Treasuries, government money-market instruments and Treasury repo, where the issuer itself tells us the token address.

Every address is labeled. A means it is listed on the issuer's own public address page. W means the issuer confirmed it in writing instead: in fund documents such as a prospectus or offering memo (linked), or in a letter or email to us (named and dated, kept on file). The table key shows how much of the total rests on each.

We leave out prime money funds that also hold commercial paper or bank deposits, funds recorded only on private bank ledgers, and any address the issuer hasn't confirmed, either on its address page or in writing. Funds still being verified are listed in note 2 and added as soon as they check out.

This means our total can be lower than dashboards that include more products. It never includes a number we can't read directly from a public blockchain.

2. Why our total differs from other trackers

Other dashboards may show a higher Treasury total. The reasons are differences in what gets counted, not in how the blockchain is read. Where we read the same token on the same chain, the numbers should match.

• Addresses we haven't confirmed yet. Some funds don't publish their token addresses. Other trackers may get them privately; we wait until the issuer confirms them publicly or in writing, so anyone can recheck our figure.
• What counts as a Treasury fund. We leave out prime money funds, which also hold commercial paper or bank deposits. Tokenized Treasury ETFs are listed separately below. Today almost all of the one we see sits inside another fund's reserves, so it is not added again.
• We never count the same dollars twice. When one tokenized fund holds another, for example a fund that keeps part of its reserves in a tokenized Treasury ETF, we count the money once, in the fund people actually hold.
• Chains we don't read yet. A few funds have copies on chains we haven't added. Each one is noted under its fund in the table.
• Timing. We update every 6 hours, and funds publish share prices at different times of day, so small differences are normal.

Seen, but not added: iShares 0-1 Year Treasury Bond ETF, Ondo tokenized (SHVon). Almost all of it is held inside USDY's reserves ($313.8M as of Oct 27, 2026), so adding it would count the same dollars twice. Source Franklin OnChain U.S. Dollar Short-Term Money Market Fund (sgBENJI). Prime money fund: it can hold commercial paper and bank deposits, not only government securities. Source

Being verified now: State Street Galaxy OnChain Liquidity Sweep Fund (SWEEP); Libeara funds; WisdomTree Treasury funds (WTSYX, WTTSX, WTLGX, WTSIX, WTSTX, FLTTX, TIPSX); Fidelity Treasury Digital Fund, OnChain class (FDIT); VanEck Treasury Fund (VBILL); Licuido fund.

Issuers: to have a fund added, send us your token addresses from an official channel at mason@blueprintfinance.com.