Americans themselves hold only 10.5%, while Italy, Portugal, and Singapore have already snapped up nearly 70% of tokenized U.S. Treasuries. The RWA narrative has been hyped for ages, but on-chain U.S. Treasuries have become a playground for overseas capital, while U.S. retail investors are still surfing the meme wave. Macro capital flows don’t follow the hype—they follow whoever actually puts real money in.

$BTC $ETH #RWA #TokenizedTreasuries