Why nobody can tell you how much DTCC has tokenized (yet)
Figures as of Oct 29, 2026. This article is a dated snapshot and its figures are not updated. For current figures, see the live board.
DTCC's Tokenization Service has been live since Oct 28, 2026, but no public source says how much has been converted into tokens. The amounts are not published, the networks cannot be read from outside, and the SEC reports go to staff, not the public. What we know, what we don't, and how RWAWeekly will track it.
By RWAWeekly team · Oct 29, 2026 · Sources checked Oct 29, 2026
The short answer: nobody outside DTCC and its participants can say yet. The Depository Trust Company, part of DTCC, launched the service on Oct 28 with 20 participants signed. Neither that release nor DTCC's July 15 release on its first production trades gives a tokenized amount. The headline figure in coverage of the launch, about $30 trillion, is the value of securities eligible to be tokenized, not the value that has been.
For the background on the launch and on the tokenized Treasuries already on public chains, see DTCC tokenization service is live.
Five reasons there is no number
1. No amounts are disclosed. DTCC's launch materials describe the scope, the networks and the participants, not volumes. The only public amount we have found is a firm's own statement: Societe Generale says on the Canton Network's DTCC page that it moved $10M of tokenized US Treasuries as collateral through the service. The page does not date the transaction.
2. Canton is public, but its data is private. DTCC's July release calls Canton "a public network". Canton describes itself as a "privacy-enabled" network. In practice, that means outsiders cannot read token balances there the way we read token contracts on Ethereum or Solana.
3. Besu is DTCC's own network. DTCC's launch one-pager lists Besu as "DTCC's private network". Under the SEC no-action letter, tokens can move only between wallets registered by DTC participants. The same one-pager says the official books and records stay with DTC.
4. The SEC reports are quarterly and go to staff. Under the SEC staff no-action letter of Dec 11, 2025, DTC sends a quarterly report package to SEC staff. It includes the total value tokenized during the quarter and the value outstanding at quarter end. The report is due no later than the third Friday after each quarter ends. The letter's transparency terms make three things public: the technology standards, the list of approved blockchains and DTCC's fees. The tokenized amounts are not among them.
5. Even the eligible list has two counts. The one-pager says "25 securities available to tokenize at launch". A DTCC spokesperson told CoinDesk that 34 securities are eligible at launch. Both sources put the eligible market value at about $30 trillion. DTCC's help pages say securities are added "on an ongoing basis", which may explain the gap. DTCC has not said so, and the list itself is visible only to participants.
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What RWAWeekly will do
- Keep a weekly log. Every week we check DTCC's press releases and important notices, plus statements by participants and networks. We add each public disclosure, with its date and source, to the publicly disclosed DTCC tokenizations table. Where no amount is given, the table says "Not disclosed". We do not estimate one.
- Watch Stellar. DTCC's one-pager lists Stellar and Circle's Arc as networks "anticipated in 2027". Stellar is a public chain that is already on our board. If DTC tokens appear there with readable supply, we will measure them and say how.
- Check the first quarterly report. The service went live in the fourth quarter. The report for that quarter is due to SEC staff by Friday, Jan 15, 2027. After that date we will check whether the SEC or DTCC publishes any figures from it. If they do, they go in the log with the source. If not, we will say so.
- Keep it separate from the board. DTCC's tokens are not on our tokenized Treasuries page or the board total, because we cannot read them. If that changes, we will say so in the methodology change log.
What this doesn't tell you
- Whether usage is high or low. No public data supports either claim yet.
- Which securities are tokenized. The eligible list is not public, and being eligible doesn't mean a security has been converted.
- Anything about price or returns. A DTC token has the same CUSIP and rights as the security it represents, according to DTCC.
See also: DTCC tokenization service is live · Tokenized Treasuries market size · State of tokenized Treasuries · Methodology · All articles
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