In mid-2026, BlackRock’s BUIDL tokenized Treasury fund has grown beyond $2.5 billion in assets under management, delivering on-chain yield from short-term U.S. government debt and repurchase agreements across multiple chains. At the same time, the Depository Trust Company (DTC)—custodian to well over $114 trillion in traditional securities—stands ready to launch limited production trades of tokenized Russell 1000 stocks, major index ETFs, and...