As of August 25, the market size of the tokenized U.S. Treasury bond market was $2 billion and currently $2.02 billion, according to data from the RWA monitoring platform RWA.xyz. BlackRock's BUIDL fund was ranked first at $502 million, followed by Franklin Templeton's FOBXX fund at $425 million. It is worth mentioning that Ondo Finance's total TVL (tokenized U.S. Treasury market cap) exceeded $540 million (including OUSG and USDY), ranking first among various protocols. In addition, the US Treasury token on the Ethereum chain has a market cap of about $1.45 billion, ranking first among the networks, followed by Stellar (about $430 million).