The worth of tokenized gold has exploded over the previous few months, pushed by each adoption and rising macroeconomic dangers.
Abstract
- Tokenized gold reached an all-time excessive at $3.6 billion
- Tether’s XAUT and PAX Gold dominate the tokenized gold market
- Gold on the blockchain rose 50x in worth since 2021
- Macroeconomic uncertainty is driving the enchantment of tokenized gold
With financial uncertainty driving the worth of gold larger, the curiosity in tokenized gold is rising. On Wednesday, November 12, the worth of tokenized gold reached an all-time excessive of $3.6 billion, in line with knowledge from Token Terminal. What’s extra, this determine is 50 occasions larger than it was in 2021.
The provision of tokenized commodities (gold) is at an all-time excessive of ~$3.6 billion, up ~50x because the begin of 2021. pic.twitter.com/MFFtVcM6Vu
— Token Terminal 📊 (@tokenterminal) November 12, 2025
The biggest tokenized valuable steel asset is Tether Gold (XAUT), with a market cap of $1.58 billion. PAX Gold is in second place, valued at $1.39 billion. Collectively, these belongings dominate the market, with different gamers holding a minor a part of the market share.
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Macro uncertainty drives demand for tokenized gold
Curiosity in tokenized gold is coming from each the adoption of tokenized belongings and rising demand for funding in valuable metals. Traditionally, gold has risen when different belongings, together with equities, bonds, and crypto, have fallen. For that cause, merchants maintain gold to hedge in opposition to systemic danger within the world markets.
Notably, rising macroeconomic uncertainty, pushed by world commerce disruptions, authorities debt, and inflation fears, is prompting buyers to hunt secure havens. Specifically, gold reached its all-time excessive of $4,381 in October 2025, in the course of the escalation of the commerce struggle between the U.S. and China.
Nonetheless, tokenized gold accounts for a minuscule share of the general gold market. Present estimates state that the world’s above-ground gold reserves quantity to 216,265 metric tonnes. At present costs, the worth of those reserves is $29.153 trillion, far above the $3.54 trillion crypto market cap.
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