Tokenized gold trading volume surpasses 2025 total in Q1

Spot trading volume for tokenized gold reached $90.7 billion in the first quarter of 2026, already exceeding the total annual volume of $84.6 billion recorded in 2025, according to a report by CoinGecko. The report noted that centralized exchanges (CEXs) processed the majority of these trades, with on-chain demand for gold growing amid rising prices for the precious metal. The tokenized gold market is dominated by PAXG and XAUT, which together accounted for 89.1% of the total growth in commodity-based real-world assets (RWAs). By market capitalization, XAUT is valued at $2.52 billion, while PAXG stands at $2.32 billion.