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Tokenized gold market approaches $3 billion, record high

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2025-09-29 21:15:57
Against the backdrop of spot gold prices breaking through $3,800 per ounce, the total market capitalization of the tokenized gold market reached a historical peak of $2.88 billion on September 29. The monthly trading volume of the two major gold tokens, XAUT and PAXG, both exceeded $3.20 billion, of which PAXG had a monthly net inflow of $40 million.
Analysts pointed to expectations of interest rate cuts by the Federal Reserve, inflationary pressures and a potential government shutdown as a combination of factors driving the rally. In contrast, gold, which has risen about 47% this year, far outperformed bitcoin, which has risen 22%. Tokenized gold is becoming an important complementary channel to traditional gold investment due to its 24/7 trading and on-chain instant settlement characteristics.
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