Crypto investors’ demand for tokenized versions of U.S. Treasury bonds is soaring as rising yields in traditional financial markets attract.
The combined market capitalization of tokenized money market funds nears $500 million, and has quadrupled in size this year, according to data compiled by CoinDesk.
Money market funds are traditional investment products that hold short-term government securities and offer a relatively safe way to earn a yield. Investors have been flocking to these funds for their perceived safety from failing banks and their 4-5% interest rate offering compared to bank deposits.
