Tether Gold tops $3.3B as demand for bullion-backed tokens rises
Tether’s XAUt tops $3.3 billion as gold reserves reach 154 tons, with demand rising amid geopolitical tensions and shifting expectations for Federal Reserve policy.
Tether’s tokenized gold product, Tether Gold (XAUt), saw reserves expand sharply in the first quarter as investor demand for bullion increased amid macroeconomic uncertainty ahead of the Iran war.
In its latest report, Tether said XAUt surpassed $3.3 billion in market capitalization during the first quarter, representing a 36% increase over the period.
The company disclosed that 707,741 XAUT tokens were in circulation at the end of the quarter, with each token backed by one troy ounce of physical gold held in reserve.