57 Traditional Financial Assets Are Moving On-Chain Tokenization allows treasurers to track, trade, and collateralize funds more easily on public blockchains than in traditional financial markets. In 2023, tokenized treasury funds jumped more than 7-fold to $850 million. Early funds launched on the Stellar blockchain, but Ethereum became the largest market for tokenized treasuries in 2023. Value Of Tokenized Treasury Funds Stellar Ethereum Polygon Solana S $900 T C A $800 R T N $700 O C T $600 R A SM $500 Millions $400 $300 $200 $100 $- 1-Jan-23 1-Feb-23 1-Mar-23 1-Apr-23 1-May-23 1-Jun-23 1-Jul-23 1-Aug-23 1-Sep-23 1-Oct-23 1-Nov-23 1-Dec-23 1-Jan-24 Sources: ARK Investment Management LLC, 2024. This ARK analysis is based on a range of underlying data from external sources, which are available upon request. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.