Update
Italy, Portugal and Singapore Hold Dominant Share of Tokenized US Treasuries
According to Chainalysis’s 2026 North America report, foreign investors in Italy, Portugal, and Singapore controlled 66.9% of geolocated tokenized US Treasury value as of July 1, 2026. American holders accounted for just 10.5%. Italy leads with 29.9%, followed by Portugal at 18.8% and Singapore at 18.2%. The total value of tokenized US Treasuries is $15.42 billion, up 125% from $6.86 billion a year earlier, making up 42.8% of the total value of all tokenized real-world assets (RWAs).