Stablecoins hold around 1% of US Treasury bills today – Bitwise
Juan Leon, Senior Investment Strategist at Bitwise Invest, highlights the growing influence of stablecoins in the US Treasury bill market. Currently, stablecoins hold approximately 1% of US Treasury bills, but Leon projects this could surge to 15%, potentially making them one of the top three holders of these securities. Leon shared a Bloomberg chart illustrating that as of June, Tether held $80.9 billion in Treasury bills, surpassing Schwab’s US Treasury Money Fund at $70.7 billion and Fidelity Investments’ Money Market Treasury Only Fund at $79 billion.
