Overview

• Between July 2024 and June 2025, the U.S. and Canada received $2.3 trillion in on-chain value, equal to 26% of global crypto activity.
• Monthly inflows peaked in December 2024 at $244 billion, with Chainalysis noting the majority came from stablecoin transfers that set a new record.
• U.S.-listed spot Bitcoin ETFs now hold over $120 billion in assets under management, a substantial share of roughly $180 billion globally.
• Tokenized U.S. Treasury funds expanded rapidly, with assets under management rising from about $2 billion in August 2024 to more than $7 billion by August 2025.
• The report links North America’s surge to a more favorable regulatory outlook, with coverage citing the 2024 U.S. election and late-2024 quantitative easing as likely catalysts, and it notes higher volatility even as retail exchange activity remains strong.