Gold-backed tokens fuel $6.1B tokenized commodities boom

Tokenized commodities soared 53% in six weeks to over $6.1B, led by Tether Gold and PAX Gold. The sector now outpaces other tokenized assets amid gold’s record rally.

The tokenized commodities market has experienced remarkable growth, soaring 53% in less than six weeks to surpass $6.1 billion in total value, according to industry data. This surge, adding approximately $2 billion since early 2026, is primarily fueled by gold-backed tokens such as Tether Gold (XAUt) and Pax Gold (PAXG), which together account for over 95% of the sector’s market capitalization. Tether Gold’s market cap reached $3.6 billion, marking a 51.6% increase in the past month, while PAX Gold climbed to $2.3 billion, up 33.2% during the same period. The rally coincides with gold’s spot price hitting all-time highs, encouraging investors to seek blockchain-based exposure to the precious metal for its perceived safety and efficiency. The tokenized commodities sector now outpaces tokenized stocks and funds in growth, signaling a significant shift in digital asset investment trends. Additionally, Tether has expanded its influence by acquiring a $150 million stake in Gold.com, aiming to further integrate its gold token across new platforms.