Pantera Capital: 81% of tokenized Treasury value is held, not traded
Summary
Pantera Capital reports that 81% of the value of tokenized Treasuries is held rather than actively traded, emphasizing that liquidity should not only be assessed through trading volume. This perspective aligns with recent industry analysis advocating for a broader evaluation of liquidity that includes reliable redemption for holders and efficient execution for traders. As major institutions like J.P. Morgan, HSBC, and Fidelity engage in tokenization, the incorporation of tokenized assets as collateral is becoming more common, thereby enhancing their role within traditional finance.
Analysis
Pantera Capital: Pantera Capital is a U.S.-based institutional asset manager focused exclusively on blockchain technology and digital assets. It recently released its State of Tokenization report analyzing developments across the tokenized assets market. In the news, the firm shared observations on holding patterns and liquidity considerations for tokenized Treasuries to highlight nuanced use cases in the sector. Collateral Applications: Tokenized assets are gaining acceptance as collateral, supporting financing and mobility in traditional finance frameworks. Liquidity Considerations: Recent industry analysis stresses evaluating liquidity through factors like reliable redemption and efficient execution rather than trading volume alone. Institutional Participation: Major institutions such as J.P. Morgan, HSBC, and Fidelity have launched onchain products amid broader tokenization efforts.
Categories
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Related sources
- https://cryptobriefing.com/tokenized-funds-stablecoins-ratio-growth/
- https://www.theblock.co/post/400374/pantera-says-321-billion-tokenization-market-remains-in-newspaper-on-a-website-phase-despite-60-growth
- https://blockchain.news/news/pantera-may-2026-portfolio-spotlight
- https://www.forbes.com/digital-assets/news/pantera/
- https://panteracapital.com/conference-call/state-of-tokenization/
- https://tokenized-treasuries.vercel.app/
- https://news.whitewallet.app/breaking/pantera-321b-tokenization-market-wrapper-phase/
- https://x.com/PanteraCapital/status/2104920294762611001
- https://www.dtcc.com/press-releases/2026/tokenized-collateral-could-unlock-billions-in-capital-and-transform-liquidity-management
- https://www.coindesk.com/business/2025/11/12/pantera-backed-solana-company-to-tokenize-its-shares-with-superstate-s-opening-bell
- https://x.com/PanteraCapital/article/2079628944215851326
- https://mercury.bloomberg.com/news/T96IMOT9NJLS
- https://app.rwa.xyz/assets/TLTon
- https://commodara.com/pantera-flags-weak-onchain-utility-321b/
- https://newshub.medianet.com.au/2026/09/pantera-agrees-to-acquire-470km%c2%b2-wa-gold-project-with-historical-targets-ready-for-follow-up/173838/