In the tokenized US Treasury market, BlackRock's BUIDL Fund stands out as the leader due to its significant scale advantage, with a market value of $502 million. Franklin Templeton's FOBXX Fund ranks second with a market value of approximately $425 million. Notably, Ondo Finance's total TVL (the market value of tokenized US Treasuries) exceeds $540 million, including OUSG and USDY, making it the top protocol. Additionally, the market value of US Treasury tokens on the Ethereum network is approximately $1.45 billion, firmly holding the top spot among networks, followed by Stellar, with a market value of around $430 million.