InformationTVLFees and Revenue

Spiko

Total Value Locked$542.11m

TVL by Chain

Arbitrum$253.7m

Polygon$164.84m

Ethereum$51.46m

Starknet$30.77m

Base$29.23m

Etherlink$12.1m

Key Metrics

Fees (Annualized)$872,910

Fees 30d$71,550

Fees 7d$16,245

Fees 24h$2,371

Cumulative Fees$871,530

Revenue (Annualized)$327,314

Revenue 30d$26,829

Revenue 7d$6,090

Revenue 24h$888

Cumulative Revenue$122,255

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 ($243.72m)OpenEden USDO ($95.57m)Tangible RWA ($41.91m)BackedFi ($12.84m)VNX ($8.51m)Tether Gold ($2.217b)BlackRock BUIDL ($2.08b)Ondo Yield Assets ($1.484b)Paxos Gold ($1.436b)Centrifuge Protocol ($1.374b)

Income Statement for Spiko

Q4 2025*Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Fees$172,802$212,118$182,106$146,450$119,205$38,849$0
Revenue$64,798$57,457$0$0$0$0$0
Earnings$64,798$57,457$0$0$0$0$0