America is gathering bitcoin and distributing dollar-pegged stablecoins globally, according to a recent study by Chainalysis.
In its Wednesday publication, titled “North America: Inside the Growth of Agentic Commerce,” the blockchain data firm revealed that the U.S. transitioned into a net importer of Bitcoin in 2026 for the first time since 2022.
The data indicates that institutional investors have driven this year’s bitcoin purchases, whereas everyday retail investors have primarily been selling.
“A dollar stablecoin is a way to hold dollars without an American bank account, and Americans already have one,” the report noted.
“The rest of the world is pivoting to a digital dollar because it meets a need that American users don’t share. Meanwhile, Americans are leaning harder on bitcoin as an infinitely scarce store of value.”
The report also highlighted that American dominance continues to grow. Following the 2024 rollout of spot bitcoin exchange-traded funds, the U.S. share of worldwide Bitcoin activity has increased during every single reporting period. This occurred even as the broader U.S. crypto economy, valued at $2.78 trillion, experienced a 2.2% contraction during a harsh bear market while still holding onto the majority of its near-doubling gains from 2025.
The U.S. Securities and Exchange Commission gave the green light to bitcoin ETFs in January 2024 following ten years of rejections.
These funds, overseen by Wall Street heavyweights such as BlackRock, Fidelity, and more recently Morgan Stanley, marked the most successful launch in ETF history.
Wall Street institutions and investors can now purchase shares of these funds, which monitor the price of bitcoin and manage the underlying acquisition and liquidation of the digital asset.
The report pointed out that the introduction of these ETFs has propelled the maturation of the sector and elevated the U.S. position as a major bitcoin investor.
Concurrently, stablecoins have transformed U.S. debt into a preferred currency for peer-to-peer markets and international business transactions, according to the findings.
“In the 2026 period we continued to see stablecoins enter new use cases most especially abroad, benefitting the U.S. companies, and the U.S. government, with billions of dollars in economic activity,” the publication added.
Since taking office, President Donald Trump has enacted several pro-crypto executive orders and legislation. Specifically, the GENIUS Act of 2025 permits banks and other organizations to issue stablecoins, provided they maintain backing through assets like U.S. Treasuries and release monthly reserve disclosures.
Frequently Asked Questions
Why is the U.S. becoming a net importer of Bitcoin?
According to the Chainalysis report, institutions have been actively buying bitcoin while retail investors mostly sell, driving the U.S. to become a net importer in 2026 for the first time since 2022.
How are stablecoins impacting the global market?
Stablecoins are acting as a digital dollar for international users without American bank accounts, transforming U.S. debt into a preferred currency for global peer-to-peer economies and cross-border businesses.
What role did spot bitcoin ETFs play in the U.S. crypto market?
Approved by the SEC in January 2024 and managed by Wall Street firms like BlackRock and Fidelity, spot bitcoin ETFs experienced a record-breaking launch that helped mature the industry and increase U.S. participation in bitcoin investing.
What regulatory changes have supported crypto under President Donald Trump?
President Donald Trump has signed pro-crypto laws and executive orders, including the GENIUS Act of 2025, which allows banks and other entities to issue stablecoins backed by assets like U.S. Treasuries with monthly reserve disclosures.
