According to AMBCrypto reports, Ethereum currently controls 43% of the tokenized treasuries market with $6.6 billion in holdings, maintaining its position despite growing competition from rival blockchains. The sector has expanded rapidly to $15.2 billion in total value, accelerating sharply through 2025 and 2026. This dominance extends beyond treasuries, as Ethereum also holds $162.4 billion in stablecoins and $578.8 million in euro stablecoins, creating deeper liquidity for moving between tokenized cash and yield-bearing assets.
As reported by AMBCrypto, BNB Chain trails Ethereum with $4.8 billion in tokenized treasuries, while Solana, Stellar, and Avalanche collectively hold nearly $2.8 billion. The distribution shows institutions are adopting multiple settlement networks rather than relying on one chain. Solana has grown to $122.6 million, placing it ahead of Base at $57.9 million, indicating where competition is beginning to emerge. TRON already holds $91.3 billion in stablecoins, while BNB Chain controls $4.8 billion in tokenized treasuries, demonstrating how liquidity is becoming more specialized across different chains.
According to AMBCrypto analysis, Ethereum's upper hand depends increasingly on liquidity depth, even as competing chains capture meaningful Treasury flows. The combination of tokenized treasuries, stablecoins, and euro stablecoins creates deeper liquidity for moving between financial products within one ecosystem. HyperEVM has crossed $5 billion, showing newer networks are attracting meaningful capital, but Ethereum's balances continue rising as competitors expand, pointing toward new issuance rather than direct migration. This suggests that while Ethereum's percentage share can fall, its absolute liquidity base continues growing, maintaining its competitive moat.
