According to a Chainalysis report titled North America: Inside the Growth of Agentic Commerce, the United States transitioned into a net importer of Bitcoin in 2026 for the first time since 2022. Institutional investors are currently driving this accumulation, while retail participants are primarily selling their holdings.
The report highlights that the U.S. share of global Bitcoin activity has consistently increased since the launch of spot Bitcoin ETFs in January 2024. Despite a 2.2% contraction in the overall U.S. crypto economy, which is valued at $2.78 trillion, the sector has maintained most of the growth achieved in 2025.
Spot Bitcoin ETFs, managed by firms including BlackRock, Fidelity, and Morgan Stanley, have contributed to market maturity and increased U.S. investment. Meanwhile, the U.S. continues to export dollar-pegged stablecoins, which serve as a primary currency for international peer-to-peer and business transactions.
Legislative developments have supported this trend, notably the GENIUS Act signed in 2025. This law permits banks and other entities to issue stablecoins backed by U.S. Treasuries, provided they submit monthly reserve disclosures. This framework generates significant economic activity for U.S. companies and the government.
