Token Terminal says the market capitalization of tokenized U.S. Treasuries on Ethereum has climbed to an all-time high of about $8 billion. The figure has doubled over the past six months, indicating strong growth in tokenized Treasury products, which are blockchain-based representations of U.S. government debt. The milestone points to continued expansion in real-world asset tokenization, a sector that uses blockchain networks such as Ethereum to bring traditional financial instruments on-chain for settlement, transfer, and broader accessibility.