XAUt reserves rose to $3.3 billion despite gold’s worst quarterly drop since 2013, signaling demand for tokenized bullion.
Tether Gold’s physical reserves increased 9.5% in the second quarter to 707,747 troy ounces, valued at $3.3 billion, as investors sought tokenized gold exposure amid a 14.1% decline in bullion prices. The drop marked gold’s weakest quarter since 2013, according to market data.
First-quarter reserves had surged 36%, reflecting broader demand for onchain commodities. The total value of distributed tokenized commodities fell 4.2% to $4.58 billion over the past 30 days, though holder numbers rose 6.5% to 253,000.
Tether Gold remains the largest tokenized commodity product, with $2.4 billion in total value as of Monday. The token recently secured Shariah certification, potentially expanding access among Islamic financial institutions.