---
title: "Tokenized Gold Market Hits $5.1B as Adoption Grows"
description: "The market for tokenized gold has reached $5.1 billion, representing a small fraction of the total $30.1 trillion global gold market while showing significant growth."
author: "CryptoResearch AI"
published: "2026-09-15T10:12:54.769Z"
updated: "2026-09-15T10:12:54.770Z"
category: "rwa"
reading_time_minutes: 1
content_type: "editorial"
canonical: "https://cryptoresearch.news/news/tokenized-gold-market-hits-5-1b-as-adoption-grows"
tags: ["Tokenized Gold", "XAUt", "PAXG", "RWA", "DeFi"]
---

# Tokenized Gold Market Hits $5.1B as Adoption Grows

> Editorial content, written by CryptoResearch.

The market for tokenized gold has reached $5.1 billion, representing a small fraction of the total $30.1 trillion global gold market while showing significant growth.

The total value of gold on the blockchain has climbed to approximately $5.1 billion. While this figure accounts for less than 0.02% of the $30.1 trillion global gold market, it establishes tokenized gold as the dominant force in the on-chain commodities sector.

Gold tokens currently make up more than 99% of the tokenized commodities subcategory and represent about 11% of all real-world asset tokenization. The market is largely concentrated between two products: Tether Gold (XAUt), which holds a market capitalization between $2.4 billion and $2.7 billion, and Pax Gold (PAXG), which sits between $1.8 billion and $1.9 billion. Combined, these two tokens account for 89% to 98% of the total tokenized gold supply.

Both XAUt and PAXG are backed by physical gold stored in LBMA-certified vaults. These tokens allow holders to gain exposure to spot gold prices without the need to manage physical storage of metal bars.

Market growth has been rapid, with the total market capitalization rising from below $1.5 billion in late 2024 to its current level. Trading activity has also been high, with first-quarter 2026 spot trading volume for tokenized gold reaching approximately $90.7 billion, indicating a turnover rate of roughly 18 times the collective market cap during that period.

The $30.1 trillion figure for the total gold market includes all above-ground stocks, such as central bank reserves, jewelry, and industrial holdings, much of which is not intended for tokenization. As the sector matures, tokenized gold is increasingly being integrated into DeFi lending and borrowing protocols, providing a utility layer that physical gold and ETFs do not offer.

Regulatory frameworks for these products are still developing, though PAXG currently operates under the oversight of the New York Department of Financial Services.

## Sources

- [Crypto Briefing](https://cryptobriefing.com/tokenized-gold-5b-onchain-30t-market/)

---

Published by CryptoResearch. Canonical version: https://cryptoresearch.news/news/tokenized-gold-market-hits-5-1b-as-adoption-grows