Overview
- Tether’s reserve attestation, published Monday, showed XAUT backed by 707,747 ounces of gold with a market value of about $3.303 billion after a 36% quarter-over-quarter rise.
- Tether’s broader reserves held about $19.8 billion in gold at the end of March, equal to roughly 132 tons, lifting the company’s total exposure to about 154 tons when XAUT is included.
- Each XAUT token represents one troy ounce of physical gold stored in Swiss vaults, with bars meeting London Good Delivery rules and tracked by serial number, purity, and weight.
- Tether attributes the surge to record prices and economic uncertainty, saying large investors are using tokenized gold for spot price exposure and round-the-clock transfers.
- XAUT now accounts for more than half of the tokenized precious metals market, while rival PAX Gold is near a $2.2 billion market cap, pointing to growing scale and competition.