Chainalysis: 66.9% of tokenized U.S. Treasuries held abroad

Blockchain analytics firm Chainalysis has found that Italy, Portugal and Singapore account for 66.9% of tokenized U.S. Treasury holdings with identifiable geographic locations, while the United States represents just 10.5% of the recorded value. Summary Italy, Portugal and Singapore account for 66.9% of tokenized Treasury value with identifiable holder locations. U.S. investors account for 10.5% of geolocated tokenized Treasury holdings, placing the country fourth globally. Japan represents 16.4% of identified holders but controls just 0.4% of the recorded asset value. Tokenized U.S. Treasury assets grew 125% to $15.42 billion during the year ending July 2026. Chainalysis says tokenization gives overseas investors access to Treasury products without U.S. brokerage accounts. In its October 14 report, North America: Inside the Growth of Agentic Commerce, Chainalysis examined how American financial products are reaching investors through blockchain networks, with tokenized government debt emerging as the largest category of real-world assets. The research found that tokenized U.S. Treasury assets reached $15.42 billion in the year ending July 1, 2026, compared with $6.86 billion a yea...