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Paxos Gold Draws Record $248 Million in January as Tokenized Bullion Booms

Investors are shifting toward tokenized bullion for perceived safety.

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Overview

  • PAXG’s January inflows lifted its market capitalization above $2.2 billion, placing it second in size behind XAUT, according to DefiLlama data reported by CoinDesk.
  • Spot gold crossed about $5,300 per ounce after a roughly 22% January surge and a gain of more than 90% over the past year.
  • The total market value of tokenized gold exceeded $5.5 billion, CoinGecko data shows.
  • Bitcoin has fallen more than 10% over the past year as broader crypto weakened, a dynamic that pushed some investors toward gold-linked tokens, said Tesseract Group’s James Harris.
  • PAXG represents allocated physical gold held in LBMA London vaults and offers fractional ownership with on-chain transferability and crypto wallet compatibility.