Tether Gold Reserves Rise 9.5% Despite Gold’s Worst Quarter Since 2013
The physical gold reserves backing Tether Gold, or XAUt, increased 9.5% in the second quarter as investors continued buying tokenized gold during a sharp market downturn.
Gold prices fell 14.1% during the quarter, marking their worst quarterly performance since 2013. Tether CEO Paolo Ardoino said the increase showed that investors were using periods of weakness to expand their exposure to physical gold through an onchain product.
Across the tokenized commodities market, total value fell 4.2% over the past 30 days to $4.58 billion, while the number of holders rose 6.5% to 253,000.
XAUt remains the largest tokenized commodity product, with approximately $2.4 billion in value. The token also received Shariah certification in July, potentially expanding its use among Islamic financial institutions.
The physical gold reserves backing Tether Gold, or XAUt, increased 9.5% in the second quarter as investors continued buying tokenized gold during a sharp market downturn.
Gold prices fell 14.1% during the quarter, marking their worst quarterly performance since 2013. Tether CEO Paolo Ardoino said the increase showed that investors were using periods of weakness to expand their exposure to physical gold through an onchain product.
Across the tokenized commodities market, total value fell 4.2% over the past 30 days to $4.58 billion, while the number of holders rose 6.5% to 253,000.
XAUt remains the largest tokenized commodity product, with approximately $2.4 billion in value. The token also received Shariah certification in July, potentially expanding its use among Islamic financial institutions.