Tokenized Treasuries Cross $15 Billion While the GENIUS Act Heads to Rulemaking and Bitcoin ETFs String Together a Nine-Day Inflow Streak

Three weeks ago we wrote about Morgan Stanley joining the tokenization race and BUIDL crossing $2.4 billion in assets. Since then the on-chain Treasury market has more than doubled, federal regulators have begun translating the GENIUS Act into actual rulebooks, and spot Bitcoin ETFs have absorbed roughly thirty-five thousand coins from the open market in a nine-session run that has now become the strongest stretch of the year. Digital asset infrastructure has stopped being a forecast. It is a balance sheet line item at the largest financial institutions on earth, and the policy scaffolding around it is being built in real time.