InformationTVLFees and Revenue

Spiko

Total Value Locked$526.99m

TVL by Chain

Arbitrum$245.53m

Polygon$157.55m

Ethereum$51.42m

Starknet$30.75m

Base$29.49m

Etherlink$12.25m

Key Metrics

Fees (Annualized)$885,513

Fees 30d$72,583

Fees 7d$15,839

Fees 24h$2,291

Cumulative Fees$855,205

Revenue (Annualized)$332,035

Revenue 30d$27,216

Revenue 7d$5,939

Revenue 24h$858

Cumulative Revenue$116,135

Total Raised$22m

Jul 17, 2025$22mRound: Series AInvestors: Index Ventures, Blockwall Management, White Star Capital, BPI France, Frst, RerailSource: https://www.spiko.io/blog/spiko-raises-22m-led-by-index-ventures

Protocol Information

Spiko USTBL / EUTBL are Tokenized Money Market Funds regulated by the French Financial Markets Authority that invest in US T-Bills / Eurozone T-Bills

Category:RWA

Sub Category: Treasury Bills

Audits:

WebsiteGitHubTwitter

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Total yields are generated from investment assets.View code on GitHubRevenue: 15% yields are collected by Spiko protocol.View code on GitHub

Competitors

Midas RWA ($255.1m)OpenEden USDO ($93.79m)Tangible RWA ($41.89m)BackedFi ($12.85m)VNX ($8.48m)Tether Gold ($2.188b)BlackRock BUIDL ($1.778b)Ondo Yield Assets ($1.455b)Paxos Gold ($1.427b)Centrifuge Protocol ($1.374b)

Income Statement for Spiko

Q4 2025*Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Fees$156,477$212,118$182,106$146,450$119,205$38,849$0
Revenue$58,678$57,457$0$0$0$0$0
Earnings$58,678$57,457$0$0$0$0$0