U.S. Bitcoin Inflows Outpace Outflows for First Time Since 2022

The United States recorded more estimated Bitcoin (BTC) inflows than outflows in the 12 months through June 30, 2026, its first net-import position since 2022.

Transfers below $10,000 remained net outbound in every period measured. Transfers above $10 million brought 53,200 BTC into the country, a figure for that transfer bracket rather than the overall net balance.

The opposing patterns show how flows differed by transaction size. The overall net-import position means estimated inflows exceeded outflows, but the 53,200 BTC figure covers only transfers above $10 million.

The U.S. accounted for a larger portion of the combined Bitcoin activity measure in every reporting period following the January 2024 launch of spot Bitcoin ETFs. The activity measure combines Bitcoin’s share of crypto-service inflows, exchange trading and net cross-border receipts.

Stablecoins made up a smaller share of U.S. crypto activity than of activity elsewhere. Markets outside the United States relied more heavily on dollar-pegged stablecoins.

Over the same year, global crypto market value shrank by roughly half, a $2.1 trillion decline, while on-chain economic activity fell from $9.5 trillion to $9.4 trillion, or 1.6%.

“Net import” describes estimated cross-border activity assigned to a country; it does not mean coins physically crossed a border. Personal wallets are assigned using behavioral indicators. Crypto-service activity is allocated using website traffic adjusted by the square root of GDP per capita, though VPNs and bots can make traffic estimates imperfect.