Overview
- The market value of tokenized gold has nearly tripled in 2025 to roughly $4 billion, according to industry reporting.
- Two tokens now account for close to 90% of supply, with the leader representing about half of the market.
- The frontrunner surpassed its rival after expanding token issuance and increasing its bullion reserves during 2025.
- Investor demand has strengthened with record gold prices, macro uncertainty, and geopolitical tensions driving interest in tokenized bullion.
- IMF-sourced comparisons indicate the top issuer’s physical holdings exceed those of several national reserves, underscoring the scale of accumulation.