Tokenized Commodities Market Surpasses $6B as Gold’s Historic Rally Accelerates Onchain Demand

Tokenized commodities emerge as fastest-growing RWA sector

The tokenized commodities market has expanded to over $6.1 billion, marking a 53% increase in less than six weeks. The surge makes commodities the fastest-growing segment within the broader real-world asset (RWA) tokenization sector.

At the start of the year, the market was valued at just above $4 billion, meaning roughly $2 billion in new capital has flowed into tokenized commodities since Jan. 1, according to data from Token Terminal.

On a yearly basis, the sector has grown by 360%, significantly outpacing other tokenized asset categories.

Gold-backed tokens dominate the market

Growth in tokenized commodities is overwhelmingly concentrated in gold products.

• Tether Gold (XAUt) has surged 51.6% over the past month, pushing its market capitalization to approximately $3.6 billion.

• PAX Gold (PAXG), issued by Paxos, has increased 33.2%, reaching around $2.3 billion.

Together, the two tokens account for more than 95% of the entire tokenized commodities market, underscoring how strongly investor demand is centered on digital gold exposure.

Outpacing tokenized stocks and funds

The acceleration in commodities tokenization stands in contrast to other RWA segments:

• Tokenized stocks have grown 42% year-to-date and are valued at approximately $538 million.

• Tokenized funds have expanded just 3.6%, with a total valuation of $17.2 billion.

While tokenized funds remain the largest RWA category, tokenized commodities now represent over one-third of the sector’s size — and are expanding at a much faster rate.

Tokenized commodities market overview (Token Terminal) — provides the overall market metrics for tokenized commodities. Tokenized commodities | Token Terminal

Tether expands its gold strategy

Tether has moved to strengthen its position in the tokenized gold market by acquiring a $150 million stake in Gold.com, a precious metals platform aimed at retail and institutional investors.

The company confirmed that XAUt will be integrated into Gold.com’s platform, and it is exploring mechanisms that would allow customers to purchase physical gold using USDt (USDT).

The move signals a broader push to bridge traditional precious metals markets with blockchain-based settlement infrastructure.

Tokenized gold market cap surpassing $5B — shows recent valuation and growth of gold-backed digital assets. Tokenized Gold Market Cap Surpasses $5 Billion, Hits New All‑Time High (KuCoin)

Gold’s rally fuels onchain demand

The rise in tokenized gold mirrors a historic rally in the underlying commodity.

Gold’s spot price has climbed more than 80% over the past year, reaching a new all-time high of $5,600 on Jan. 29. After a pullback to around $4,700, prices have rebounded to approximately $5,050 at the time of writing.

The strong performance of gold — traditionally viewed as a safe-haven asset — has coincided with weakness in the crypto market.

Paxos Gold (PAXG) demand surge in 2026 — reports record inflows and rising demand for PAXG amid market shifts. Paxos Gold Token (PAXG) Sees Record $248M Inflows (CoinAlertNews)

Bitcoin struggles while gold shines

Since Oct. 10, the broader crypto market has faced significant volatility, including a crash that triggered approximately $19 billion in liquidations.

Bitcoin declined 52.4% from its early October high of $126,080 to roughly $60,000, before recovering toward the $69,000 range.

The divergence between gold’s strength and Bitcoin’s correction has reignited debate over Bitcoin’s role as “digital gold.”

Strike CEO Jack Mallers suggested that markets may still treat Bitcoin more like a high-growth technology stock than a hard-money asset. Meanwhile, asset manager Grayscale noted that Bitcoin’s recent behavior has more closely resembled a risk asset rather than a traditional safe haven.

Introduction to tokenized real-world assets (Token Terminal) — explains the expanding analytics coverage for tokenized assets like commodities. Introducing Tokenized Assets | Token Terminal

Conclusion: Gold leads the tokenization wave

The tokenized commodities market’s rapid expansion reflects two converging trends: surging gold prices and growing demand for blockchain-based exposure to real-world assets.

With more than $6 billion now onchain, and the majority concentrated in gold-backed tokens, tokenized commodities have emerged as one of the strongest-performing sectors in digital assets this year.

Whether Bitcoin reclaims its safe-haven narrative or gold continues to dominate investor flows, one trend is clear: real-world asset tokenization is accelerating — and gold is leading the charge.

See all our insights: Bitcoin World News