Tokenized Gold's Q1 2026 Spot Volume Already Blows Past All of 2025!

Tokenized gold products logged $90.7 billion in spot trading volume in Q1 2026 alone, eclipsing the $84.6 billion recorded across the entire year of 2025, according to CoinGecko data. The milestone lands just three months into the year, signaling a dramatic acceleration in on-chain precious metals activity.

The market remains heavily concentrated around two dominant products: Paxos Gold (PAXG) and Tether Gold (XAUT), which together account for the lion's share of tokenized gold liquidity. The pace of growth suggests that institutional and retail appetite for blockchain-native gold exposure is compounding — not plateauing.