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Tokenized assets surge as a $20.1 B home‑loan token tops the market and tokenized stocks rise 28.6% in July, reshaping on‑chain liquidity.
Tokenized home‑loan tokens reached $20.1 billion on July 7, outpacing the $15.16 billion in tokenized US Treasuries and driving a 28.6% month‑over‑month rise in tokenized stocks, signaling a shift of capital toward equity and credit products on‑chain【1】.
| At a glance | |
|---|---|
| Largest tokenized asset | $20.1 B Figure HELOC token (July 7) |
| Tokenized stocks growth | +28.6% in 30 days |
| Treasury token growth | +0.74% in 30 days |
| Stablecoin rotation | USDGO up 54% to $6.12 B in 3 weeks |
Tokenized US Treasuries held $15.16 billion but grew only 0.74% over the past 30 days, confirming a plateau in the cash‑product segment. In contrast, tokenized stocks, valued at $1.85 billion, surged 28.6% in the same period, with transfer volume jumping 87% to $8.76 billion and holder counts rising 24.5% to over 443 k addresses【1】. The disparity—stock tokens growing nearly 40 times faster than Treasury tokens—highlights a migration of on‑chain capital from low‑yield cash products to equity‑access offerings.
Figure Technologies’ home‑equity line‑of‑credit (HELOC) token hit $20.1 billion on July 7, surpassing the combined value of all tokenized US Treasuries by roughly $5 billion and exceeding tokenized stocks by more than tenfold【1】. The token’s growth of $730 million in three weeks reflects its role as a securitization vehicle rather than a retail‑focused product, contributing to a broader $31 billion on‑chain private‑credit pool that now tops all non‑stablecoin categories【1】.
Total stablecoin value has lingered near $321 billion since early June, yet internal flows reveal active rotation. Regulated, fully‑reserved tokens such as USDGO rose 54% to $6.12 billion, while Global Dollar and Dai increased 16% and 8% respectively. Conversely, the synthetic USDe token fell 16%, shedding about $1.4 billion as traders shifted from market‑driven yield to bank‑backed dollars【1】. This reallocation underscores a liquidity shift toward safety amid declining funding rates.
The data suggest that on‑chain tokenization is no longer driven by fresh inflows but by capital rotating from Treasury and synthetic stablecoin products into equity and private‑credit tokens. How sustained this reallocation will be—and whether liquidity can support larger redemptions—remains the key question for the market’s next phase.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 11, 2026 · How we report
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