North America Crypto Volume Hits $2.3 Trillion, Chainalysis Report Reveals

North America has established itself as a major center for cryptocurrency activity, with significant transaction volumes recorded over the past year.

The region’s growth highlights an increasing institutional and retail interest in digital assets, particularly within the United States.

According to a new report from blockchain analytics firm Chainalysis published on September 17, North America received $2.3 trillion in cryptocurrency value between July 2024 and June 2025. This volume represents 26% of all global transaction activity during that period.

The report suggests this activity was influenced by a more favorable regulatory outlook and institutional trading strategies.

A peak in monthly value was recorded in December 2024, when an estimated $244 billion was transferred in a single month.

ETFs and Tokenization Drive Adoption

The rise of spot Bitcoin BTC $115 630 24h volatility: 0.5% Market cap: $2.30 T Vol. 24h: $43.01 B ETFs has been a significant factor in the market’s expansion.

U.S.-listed Bitcoin ETFs now hold over $120 billion in assets under management (AUM), making up a large portion of the roughly $180 billion held globally.

The strong demand is reflected in a recent resumption of inflows, although the products are not without their detractors, with author Robert Kiyosaki calling ETFs “for losers.”

The market for tokenized real-world assets also saw notable growth. While funds holding tokenized U.S. treasuries expanded their AUM from approximately $2 billion to more than $7 billion, the trend is expanding into other asset classes.

This includes the recent launch of tokenized equities by platforms looking to broaden on-chain investment options.

These yield-bearing assets are gaining popularity with crypto-native institutions and are increasingly used as collateral in DeFi. This activity contributes to the growth of major protocols, a trend highlighted by Aave’s record-breaking deposits.

The growth in both ETFs and tokenization points to the deepening integration of digital assets within the U.S. financial system.

The report also notes that North American markets show more volatility than other regions, likely due to a higher concentration of institutional trading.

However, retail activity remains strong, with centralized exchanges processing trillions in trades for everyday users.

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