According to a 2026 report by Chainalysis, investors from Italy, Portugal, and Singapore held 66.9% of the geolocated value of tokenized US Treasuries as of July 1, 2026. In contrast, American holders accounted for only 10.5% of this value.
Italy holds the largest share at 29.9%, followed by Portugal with 18.8% and Singapore with 18.2%. While Japan accounts for the highest number of individual holders at 16.4%, their collective share of the total value is only 0.4%.
The total market value for tokenized US Treasuries reached $15.42 billion, representing a 125% increase from the $6.86 billion recorded a year earlier. These assets now comprise 42.8% of the total value of all tokenized real-world assets.
Foreign interest is driven by lower minimum investment thresholds and the elimination of the need for US brokerage accounts. Meanwhile, lending activity within this sector declined by 23%, and the BUIDL fund by BlackRock regained its leading position in late August 2026.
