Japan Has 16.4% of Known-Location Tokenized Treasury Holders, 0.4% of Value

Japan accounted for 16.4% of holders of tokenized U.S. Treasury assets with identifiable locations, but just 0.4% of their value, showing a wide gap between holder count and the value held.

Among tokenized U.S. Treasury assets with identifiable holder locations, Italy represented 29.9% of value, Portugal 18.8% and Singapore 18.2%. Together, the three countries accounted for 66.9% of value in that group; the United States ranked fourth at 10.5%. These country shares cover only assets for which holder locations could be identified.

The tokenized U.S. Treasury market reached $15.42 billion in the 12 months through July 1, 2026, up 125% from $6.86 billion. The holder-count comparison adds another measure to earlier coverage of U.S. holdings in tokenized Treasuries: Japan ranked first by number of holders, despite its small share of value.

Lower minimum investments and the ability to gain exposure to U.S. Treasuries without opening a U.S. securities brokerage account have broadened access for some overseas investors. The market growth figure covers the year ending July 1, 2026.