Tokenized Gold Crosses 2025’s Full-Year Volume in Just 1 Quarter

Tokenized gold trading surged in Q1 2026, with spot volume of $90.7 billion—already surpassing full-year 2025’s $84.6 billion—highlighting rapid demand for on‑chain bullion. CoinGecko data show PAXG and XAUT dominated activity, driving an expansion in tokenized commodities whose market capitalization climbed to $5.55 billion (up 289% over 15 months). The shift has materially reshaped real‑world-asset (RWA) composition: tokenized commodities now represent 28.7% of RWAs while Treasuries’ share fell to 67.2%. Centralized exchanges handled most spot trading, and monthly volumes tracked gold price moves, with spikes when spot gold hit record highs. The report implies continued RWA rotation depends on where physical gold prices settle through 2026, signaling positive market flow into gold-backed tokens and broader tokenized commodities.