Ethereum emerges as Wall Street’s on-chain treasury hub with $8B locked

Tokenized US Treasury products on Ethereum reached an all-time high of $8 billion in May 2026, doubling in six months from roughly $4 billion in Nov 2025. The rapid growth signals stronger crypto and DeFi adoption, increased demand for on-chain dollar-denominated yield and greater composability for DEXs and DeFi protocols. Expansion boosts institutional on‑ramps but raises regulatory and security scrutiny for CEXs and DeFi treasury integrations, which could affect liquidity and product design.