Block Signals · Apr 26, 2026

$13.7 Billion in T-Bills Went On-Chain and Changed How DeFi Works

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A 36x run in three years, and the real story is what these tokens do after you buy them

$13.7 billion now sits in tokenized U.S. Treasury products on-chain, spread across 75 separate funds and notes, according to rwa.xyz data as of April 2026. Three years ago, that figure was $380 million. The category grew 36x while most of crypto spent 2023 and 2024 recovering from the FTX collapse and a brutal rate environment.

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