Tokenized Commodities Blows Past $6B on Gold Adoption

The tokenized commodities market has risen 53% in less than six weeks to over $6.1 billion, making it the fastest-growing vertical in the real-world asset tokenization market as more gold moves onchain.

The tokenized commodities market was valued at just over $4 billion at the start of the year, meaning around $2 billion has been added to the market’s value since Jan. 1, according to data from crypto analytics platform Token Terminal.

Data shows the tokenized commodities market is dominated by gold products.

Stablecoin issuer Tether’s gold-backed token, Tether Gold (XAUt), has been the biggest contributor to the rise, with its market cap increasing 51.6% in the past month to $3.6 billion, while the Paxos-listed PAX Gold (PAXG) has increased 33.2% to $2.3 billion over the same timeframe.

Tokenized commodities have now risen 360% year-on-year, with the increase since the start of 2026 outpacing growth in the tokenized stocks and tokenized funds markets at 42% and 3.6%, respectively. 

It also puts the tokenized commodities market at just over one-third the size of the $17.2 billion tokenized funds market. It’s also much larger than tokenized stocks, which are valued at $538 million.

Tether expanded its tokenized commodities strategy on Thursday by acquiring a $150 million stake in precious metals platform Gold.com, in an effort to broaden access to tokenized gold.