Tether Gold (XAUt) Hits $1B Market Cap Amid Record High Gold Prices
Tether Gold (XAUt) Surpasses $1 Billion Market Cap
- Tether Gold (XAUt), a token backed by physical gold, reached a market capitalization of $1 billion on October 1, 2025.
- This milestone reflects increased investor interest in tokenized real-world assets, driven by a rally in gold prices.
- XAUt follows Paxos Gold (PAXG), which achieved the same market cap on September 3, 2025.
- The success of XAUt and PAXG indicates a maturing digital gold market with two major players.
- XAUt's gold reserves are separate from Tether's other holdings, which include $8.7 billion in gold bars for its stablecoins.
Regulatory and Strategic Differences
- PAXG is issued by Paxos Trust Company, regulated by NYDFS, while XAUt is issued by a Tether subsidiary in El Salvador.
- Paxos provides monthly reserve reports audited by major firms; Tether offers quarterly attestations by BDO Italia.
User Base and Technical Divergence
- PAXG has over 74,000 holders and daily trading volume of $67 million, indicating strong retail adoption.
- XAUt has around 12,000 holders and a daily volume of $23 million, suggesting preference by larger crypto-native entities.
- XAUt operates on multiple blockchains including Ethereum, Tron, and Polygon, whereas PAXG is solely on Ethereum.