As physical gold hits record highs, Tether Gold’s (XAUt) market cap surges past $800 million, while Bitcoin treasury firm Twenty One Capital expands holdings.
While Bitcoin (BTC) is often described as digital gold, a tokenized commodity offering direct exposure to the physical metal is quietly gaining traction.
By the end of the second quarter, Tether Gold (XAUt) — a tokenized asset issued by the stablecoin provider behind USDt — was backed by 7.66 tons of gold, according to the company’s latest attestation report. The reserve supports more than 259,000 XAUt tokens in circulation, giving the asset a total market value of over $800 million.
The rise of Tether Gold reflects a broader surge in demand for physical bullion, which has hit multiple record highs this year amid renewed inflation concerns and market unease driven by the White House’s tariff agenda.
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