Tokenized funds are growing fast in crypto. Still small in TradFi terms ↓ Largest categories: • Yield-bearing stable assets (USDS, Ethena, Maple) • Tokenized money market funds (Circle, BlackRock/Securitize) • Treasury-backed products (Ondo, Spiko, WisdomTree) Top ranges: • Leaders: ~&#036;2B–&#036;6B supply • Mid-tier: ~&#036;800M–&#036;1.5B • Long tail: <&#036;100M What this shows: • Strong demand for yield + dollar exposure • Institutions entering via familiar instruments (MMFs, Treasuries) • Tokenization is expanding across multiple asset classes But zoom out: This is still tiny relative to traditional markets. Early-stage infrastructure. Growth is real, but scale is not there yet. Author: Stacy Muur 📱 X (Twitter) | 📱 Telegram