
Tokenized gold hits $5.1B but represents less than 0.02% of the $30.1T gold market
The global tokenized gold market has reached approximately $5.1 billion, representing a significant growth trajectory from under $1.5 billion in late 2024. Despite this expansion, the sector accounts for less than 0.02% of the total $30.1 trillion physical gold market, highlighting substantial room for future adoption. The market is currently dominated by Tether Gold (XAUt) and Pax Gold (PAXG), which together control between 89% and 98% of the total tokenized supply. These assets are backed by physical gold stored in LBMA-certified vaults, allowing investors to gain exposure to spot prices without physical storage requirements. In the first quarter of 2026, tokenized gold recorded $90.7 billion in spot trading volume, indicating high liquidity and active turnover. This utility is further enhanced by integration into decentralized finance (DeFi) protocols, which provides a functional layer unavailable to traditional gold ETFs. As the sector matures, the development of a global regulatory framework remains a critical factor for broader institutional integration.














