Tokenized gold hits $5.1B, but that's under 0.02% of the gold market
- —Tokenized gold market cap grew from under $1.5 billion in late 2024 to $5.1 billion
- —Tether's XAUt accounts for $2.4–2.7 billion, Paxos's PAXG for $1.8–1.9 billion
- —The two tokens account for 89–98% of all tokenized gold supply
- —Spot trading volume in Q1 2026 was $90.7 billion
Why it matters: Tokenized gold remains a niche asset, but its integration into DeFi provides utility unavailable to physical metal and ETFs.
Source: Crypto Briefing