Tokenized gold market cap surged 177% in 2025, driving RWA market growth

Tokenized gold accounted for approximately 25% of the growth in the real-world asset (RWA) tokenization market in 2025, Cointelegraph reported, citing a study by CEX.IO. According to the report, the market capitalization of tokenized gold surged 177% over the year, rising from $1.6 billion to $4.4 billion, while an additional 115,000 new wallets were created. Annual trading volume reached $178 billion, making it the second-largest category among global gold investment products. The report noted that the market for tokenized gold grew about 2.6 times faster than that of physical gold and outperformed most major spot gold exchange-traded funds, indicating that gold trading liquidity is increasingly moving to on-chain markets.