comparison read
Compare tokenized Treasury products by issuer, claim, redemption access, source freshness, and off-chain dependencies.
What this page answers
These products all point toward Treasury or dollar-yield exposure, but they are not interchangeable. The core differences are fund structure, eligibility, redemption, NAV source, and secondary liquidity.
The visual layer stays tied to the underlying product category, while the table separates issuer, access, source freshness, and visible depth.
| Read | BUIDL | OUSG | USDY | USYC |
|---|---|---|---|---|
| Issuer | BlackRock and partners | Ondo | Ondo | Circle |
| Bathymark status | Redemption limited | Off-chain dependency | Off-chain dependency | Off-chain dependency |
| Live open data in Bathymark | Supply and price | Unavailable | Supply and price | Supply and price |
| Main comparison question | Institutional access | Fund wrapper | Yield wrapper | Fund and liquidity source |
These products all point toward Treasury or dollar-yield exposure, but they are not interchangeable. The core differences are fund structure, eligibility, redemption, NAV source, and secondary liquidity.
No. Bathymark compares claims, visible data, source freshness, redemption, and wrapper risk. It does not recommend buying, selling, or holding.