On March 26, according to CoinDesk citing rwa.xyz data, the market value of tokenized US Treasury bonds exceeded US$5 billion for the first time, an increase of US$1 billion in just two weeks, mainly from BUIDL products issued by BlackRock and Securities. Fidelity is applying for the launch of a tokenized money market fund on Ethereum, saying RWA can improve capital efficiency and be used to meet margin requirements.