The total market value of digitized bonds has grown by $700 million in the first six months of the year.

According to Rwa.xyz data, the total value of tokenized bonds has increased from $719 million to $1.45 billion since the beginning of the year.

Tokenized bonds offer various benefits such as liquidity management and management of real-world assets on the blockchain for money market issuers and investors.

These gained popularity after the entry of BlackRock and Franklin Templeton into the market.

As of June 3, the largest share in the market is held by BlackRock USD Institutional Digital Liquidity Fund with $462 million. Represented by the BUIDL token on the Ethereum blockchain, this fund is backed by U.S. Treasury bonds, repo agreements, and cash.

It is followed by Franklin Templeton's Franklin OnChain U.S. Government Money Fund (FOBXX) with 346 million dollars.

Ethereum is playing the biggest role in the tokenized bond market. While the total value of Ethereum-based products is 1 billion dollars, it is followed by Stellar with 350.7 million dollars and Solana with 46.7 million dollars.