Only 0.4% of Tokenized U.S. Treasury Bill Fund Value Was in DeFi on Oct. 7

Only $58.6 million of U.S. Treasury bill fund value was deposited in decentralized finance on Oct. 7, 2026, equal to 0.4% of the category’s $13.9 billion market value and below the marketwide share.

The broader tokenized-fund market reached $35.1 billion in market capitalization on Oct. 7, up from $3 billion on Oct. 9, 2023. Treasury bill funds became the largest fund category by market value in April 2026.

Across all tokenized funds, 8.9% of market value was deposited in DeFi on Oct. 7. Yield strategies and credit funds made up 98% of those deposits. That means the categories with the most value in DeFi differed from the largest category by market capitalization.

Market capitalization measures the value represented by fund tokens onchain. It does not measure trading activity or how much of that value is deposited in DeFi, so the $35.1 billion market total and the 8.9% figure describe different things.