Overview
- XAU₮’s market capitalization is about $2.1 billion in late October, up from roughly $1.44 billion at the end of Q3, according to Tether.
- Reserves total approximately 375,000–375,572 fine troy ounces (about 11.6 tons) stored in Switzerland under London Good Delivery standards, with redemption available to a Swiss address.
- Tether attributes the surge to retail demand in emerging markets as spot gold set new highs near $4,500 per ounce.
- XAU₮ and Paxos’s PAXG account for roughly 90% of the ~$3.7 billion tokenized‑gold market, with PAXG around $1.31 billion.
- Tether reports $135 billion in U.S. Treasury holdings under new reserve requirements, underscoring a broader pivot to low‑risk assets and real‑world‑asset tokenization.