Tether Gold reserves rise 9.5% as gold posts worst quarter in 13 years
Tether Gold (XAUt) saw its physical gold reserves rise 9.5% in the second quarter, reflecting stronger demand for tokenized gold exposure. This came as gold prices fell 14.1% during the quarter, their worst quarterly decline since Q2 2013. Tether said buyers were adding XAUt during periods of weakness to gain fully backed, transparent, portable onchain gold exposure. More broadly, distributed tokenized commodities declined 4.2% to $4.58 billion over the past 30 days, while holders increased 6.5% to 253,000. XAUt remains the largest distributed tokenized commodity, with about $2.4 billion in total value. Earlier in the year, its backing reserves had grown 36% in Q1 to 707,747 fine troy ounces, worth $3.3 billion at quarter-end. XAUt also received Shariah certification in July, which may broaden access among Islamic financial institutions.
