The Plumeberg News – Tokenized Treasuries Take Center Stage

This week, Real World Asset (RWA) tokenization hit a new stride with bold moves from legacy institutions and blockchain leaders alike. From JPMorgan executing its first public blockchain treasury settlement to VanEck debuting a multi-chain tokenized fund, the momentum around onchain finance is becoming unmistakable. Meanwhile, the SEC sent clear signals of a policy pivot, and Chainlink doubled down on its thesis that tokenization will turbocharge capital efficiency in traditional markets.

1）Weekly RWA Highlights

VanEck Launches Multi-Chain Tokenized U.S. Treasury Fund

VanEck introduces its first tokenized fund, VBILL, bringing short-term U.S. Treasury exposure on-chain across Ethereum, Avalanche, Solana, and BNB Chain through a partnership with Securitize.

SEC Chair: Blockchain Unlocks New Market Activity, Tokenization Rules Incoming

SEC Chairman Paul Atkins highlights the transformative potential of blockchain for securities markets, announcing a policy shift toward formal rulemaking for tokenized assets.

Galaxy Digital lists on Nasdaq, seeks to tokenize shares

Galaxy Digital shares began trading on the Nasdaq stock exchange, completing a years-long process that CEO Mike Novogratz called unfair and infuriating, CNBC reported. The crypto and infrastructure company, which is also listed in Canada, opened trading at $23.50 in its Nasdaq debut.

JPMorgan Executes Tokenized Treasury Settlement on Public Blockchain with Chainlink

In a landmark move, JPMorgan settles tokenized U.S. Treasuries using its Kinexys platform via Chainlink and Ondo Finance, showcasing the viability of public blockchain infrastructure for RWAs.

Chainlink Co-Founder: Tokenization to Boost Capital Velocity in Global Markets

Sergey Nazarov of Chainlink forecasts a surge in capital efficiency across real estate, credit, and treasuries as tokenized assets and frictionless payments reshape traditional finance.

2）RWA Market Commentary

VanEck’s entrance into the tokenization space with VBILL is a strong signal that asset managers now view tokenized treasuries as more than an experiment—they’re a product class. What’s notable is the fund’s multi-chain deployment, reinforcing that interoperability and user flexibility are now baseline expectations in RWA infrastructure.

JPMorgan’s move to publicly settle tokenized treasuries using Chainlink and Ondo Chain marks another leap forward. This is not just about using blockchain—it's about using public chains, proving that privacy, compliance, and security concerns can be addressed without resorting to walled gardens.

On the regulatory front, SEC Chair Paul Atkins’ remarks confirm a long-awaited policy shift: enforcement-led ambiguity is giving way to structured, forward-looking regulation. Combined with Chainlink’s macro perspective on capital flows, it’s clear that the building blocks for institutional adoption are aligning.

3）Narrative Overview

RWA Index Ranking (54.34%)

4）Tokenized Assets Analytics

Global Market Overview:

Total RWA Onchain: $22.51B (+5.87% from 30d ago)
Total Asset Holders: 101,457 (+4.78% from 30d ago)
Total Stablecoin Value: $231.62 B (+1.98% from 30d ago)

Conclusion

From asset managers and megabanks to regulators and oracle providers, this week’s news shows how the RWA tokenization ecosystem is maturing across all fronts. We’re moving beyond pilot programs into live, institutional-grade deployments on public infrastructure.

The message is clear: tokenization is no longer a fringe innovation—it’s a fundamental upgrade to how global markets operate. With regulatory alignment on the horizon and product innovation accelerating, the road to a fully onchain financial system is unfolding in real time.