Tether buys 27 tons of gold, but its tokenized market share slips – Why?

ambcryptoPubblicato 2026-01-27Pubblicato ultima volta 2026-01-27

Introduzione

Tether purchased 27 metric tons of gold in Q4 2025, continuing its aggressive accumulation strategy amid macroeconomic uncertainty and strong safe-haven demand. Gold surged 64% in 2025 and broke the $5,000 mark in 2026, driving retail interest in tokenized gold. Tether Gold (XAUT), backed 1:1 by physical gold, saw its market cap grow to $2.24 billion in early 2026. However, despite this growth, Tether's dominance in the tokenized gold market dropped from 60% to 50%, as competitors like Pax Gold and Kinesis Gold gained traction. The overall tokenized gold market exceeded $5.2 billion, with further growth expected due to ongoing geopolitical and economic risks.

Tether continued its gold buying spree in late 2025, driven by macro uncertainty and growing demand for safe‐haven assets. According to its latest transparency report, the world’s largest stablecoin issuer purchased 27 metric tons of gold in Q4 2025.

This was nearly the same amount of gold as it acquired in Q3, 2025. In fact, its 2025 buying spree rivaled demand from central banks, as the metal crossed new highs and broke key psychological levels.

In 2025, gold posted a 64% gain and is up another 17% so far in 2026, crossing the $5000 mark for the first time.

This explosive run has also driven retail demand for tokenized gold, with the Tether gold [XAUT] market supply growing over 3x from $600 million to $ 1.8 billion by the end of 2025.

In early 2026, Tether Gold’s market cap rose to $2.24 billion, up 26% in January alone, further underscoring investors’ interest in the tokenized gold. The firm’s aggressive demand for gold is used to back issued XAUT tokens on a 1:1 basis, the report noted.

Commenting on the report, Tether’s CEO Paolo Ardoino said,

“Through Tether Gold, we are operating at a scale that now places the Tether Gold Investment Fund alongside sovereign gold holders, and that carries real responsibility.”

Ardoino added that XAUT exists to ‘remove ambiguity’ as confidence in monetary systems weakens and is put to a stress test by institutions and people.

Tether’s share in tokenized gold market drops

That said, the tokenized gold boom has also seen Tether’s market share trimmed by nearly 10%. According to CoinGecko data, Tether gold held nearly 60% market dominance as of November 2026.

However, in early 2026, Tether Gold’s market share had dropped to 50% ($2.6 billion), while Pax Gold, the second-largest tokenized gold, had a 40% market share.

Kinesis Gold appeared to be the rising star that has eaten into most of the market share. Its dominance rose from zero in November to nearly 8% as of early 2026.

Meanwhile, the tokenized gold market has surpassed $5.2 billion and could grow further if geopolitical tensions and macro uncertainty drive physical gold prices higher.

Final Thoughts

Tether added 27 tons of gold in Q4 2025, nearly the same amount bought in Q3, as the commodity extends its bull run into 2026.
However, Tether Gold has lost 10% of its market share amid the tokenized gold boom

Domande pertinenti

QHow much gold did Tether purchase in Q4 2025 and what was the reason behind this purchase?

ATether purchased 27 metric tons of gold in Q4 2025. This buying spree was driven by macro uncertainty and growing demand for safe-haven assets.

QWhat was the performance of gold in 2025 and early 2026, and what key price level did it cross?

AIn 2025, gold posted a 64% gain. It is up another 17% so far in 2026, crossing the $5000 mark for the first time.

QDespite the growth of its XAUT token, why did Tether's market share in the tokenized gold market drop?

ATether's market share dropped by nearly 10% because new competitors, particularly Kinesis Gold, entered the market and captured a significant portion of the growing tokenized gold sector.

QWhat is the current size of the total tokenized gold market and what factors could drive its further growth?

AThe tokenized gold market has surpassed $5.2 billion. It could grow further if geopolitical tensions and macro uncertainty continue to drive physical gold prices higher.

QAccording to Tether's CEO, what is the primary purpose of the XAUT token?

AAccording to CEO Paolo Ardoino, XAUT exists to 'remove ambiguity' as confidence in monetary systems weakens and is put to a stress test by institutions and people.

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