Wall Street put $7B into tokenized funds, but under 1% is actually being used in DeFi

- Wall Street parked $7 billion into tokenized funds and then... did nothing with them. BlackRock's BUIDL sits at 0.67% DeFi utilization. Franklin Templeton's iBENJI is at literally zero. Meanwhile Maple's syrupUSDC is running 55% utilization and JAAA is at 98%. The big-name funds are trophy holdings — expensive paperweights on-chain. The actual work is being done by private