Top 5 Grayscale Competitors & Alternatives And Similar RWA Projects

Midas US Treasury Bills Token (mTBILL) is a permissionless yield-bearing token tracking short-dated US Treasury Bills.

DeFi , RWA

0G , Arbitrum , Avalanche , Base , Berachain , view 28 more

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659,027

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This fund offers diversified exposure to leading cryptocurrencies by tracking a market-cap-weighted index of top Layer 1 and Layer 2 tokens, including assets like BTC, ETH, and SOL. Designed to function as the crypto equivalent of the S&P 500, it allows investors to access broad crypto beta without managing wallets or selecting individual assets. The portfolio is rebalanced quarterly and includes a fixed USD allocation, while the remaining assets are weighted by market cap within set limits. Enhanced yield potential is achieved through the use of staked instruments such as mETH, bbSOL, and sUSDe. Structured for institutional investors, the fund features traditional administration, a 1% management fee, and simplified access to digital assets and stablecoins

DeFi , Indexes , RWA

Mantle

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807,728

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Superstate is a blockchain-based government bond fund, using the Ethereum blockchain as a secondary record-keeping tool.

DeFi , RWA

Ethereum , Plume , Plume Mainnet , Solana

$577,628,373

9,880

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USDtb is a digital dollar, otherwise known as a USD stablecoin. USDtb can be used the same way a holder would use any other dollar, whether to send and receive payments, acquire and trade assets, or to simply hold dollars.

DeFi , RWA

Ethereum

$492,308,316

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Re is a decentralized reinsurance protocol that bridges real-world insurance risk on-chain. It pools capital through stablecoins, issues tokenized receipt assets (reUSD, reUSDe), and allocates funds into regulated reinsurance contracts. Returns are generated from underwriting premiums and on-chain yield, with transparent reporting of collateral and performance.

DeFi , Insurance , RWA

Arbitrum , Avalanche , Base , Ethereum

$390,356,944

129,187

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