Grayscale Investments estimates in a note published on October 28, 2026, that the United States accounts for approximately 15% to 20% of global crypto activity, meaning 80% to 85% of transactions occur abroad. The country hosts about 36% of Bitcoin’s hashrate and 31% of Ethereum’s full nodes, demonstrating its disproportionate role in infrastructure without an equivalent share of usage. The US crypto economy contracted by approximately 2.2% year over year as of June 2026, while stablecoin adoption and decentralized finance continue to expand in other regions. US spot Bitcoin and Ethereum ETFs nevertheless remain an important channel for new capital, allowing American investors to influence prices despite their minority share of global transactions.
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