Foresight News, citing Unitas Team, analyzed every XGLD holding address since launch and found 856 valid wallets with roughly $14.1 million in total value locked. The biggest group was made up of high-conviction gold holders, who accounted for 73.5% of TVL. Stablecoin-led wallets contributed 18%, while high-frequency onchain traders accounted for just 0.3%. The data suggests XGLD is being used less by APY hunters and more by users who already wanted gold exposure and are looking for a more efficient way to hold it. The same piece also looked at XAUt holders. Among 654 valid addresses, 42 wallets held tokenized stocks or ETFs alongside gold, pointing to a more multi-asset approach to onchain allocation. It also noted that 90% of XAUt supply sits in three Binance exchange hot wallets, leaving direct onchain holders as a relatively focused user base. On the product side, Tether Gold has completed an integration with Unitas Labs, letting users deposit XAUt, mint XGLD 1:1, and put the backing to work through a delta-neutral strategy. Returns are variable, and the article says past performance has been in the double-digit annualized range.

Tether, the issuer of USDT, has completed its first full annual financial audit, with KPMG U.S. issuing an unqualified opinion on the company’s 2025 financial statements. According to Tether’s announcement, the audit covered the balance sheet, income statement, and cash flow statement, along with transaction records, internal controls, ownership files, valuation methods, and counterparty information. KPMG also physically inspected Tether’s gold bars in storage rather than relying only on custodian records. The audit found that Tether’s reserve assets exceeded liabilities by $6.814 billion as of Dec. 31, 2025, setting a new high for excess reserves. The company said the result marks a step beyond the quarterly reserve attestations it has published for years, which differ from a full audit in scope and testing depth. Tether also disclosed broader business figures in the report. The company said it generated more than $10 billion in net profit in 2025, while net operating profit in the second quarter of 2026 reached $1.5 billion, largely from interest income on U.S. Treasuries and repurchase agreements. Tether put USDT’s market capitalization at about $183 billion, representing 61% of the $301 billion stablecoin market.

The UK Financial Conduct Authority is discussing a regulatory framework for tokenized gold with major banks, according to BlockTempo, in a move tied to the country’s push to digitize financial markets and protect London’s position as a global gold trading hub. The regulator is expected to outline a plan for developing the relevant standards in the coming months. The report places the initiative within a broader regulatory sequence. The UK had already brought stablecoins into a formal regulatory system in 2025, with the FCA and the Bank of England jointly setting standards for systemic stablecoins. In May 2026, the two authorities also published a shared vision for tokenization in UK wholesale markets, backing the use of tokenized infrastructure to improve clearing and settlement efficiency. BlockTempo said the latest effort suggests the UK is extending tokenization policy from stablecoins and wholesale-market infrastructure into real-world assets. The article also links the move to rising on-chain gold activity and notes that London, which it describes as the world’s largest gold trading center with more than 40% of daily global gold trading volume, risks losing standard-setting influence if other jurisdictions move first. The FCA has not yet released a timetable, detailed compliance requirements, or any decision on whether existing tokenized gold products such as PAXG would connect directly to the future framework.

Blockchain data platform BirdEye has published its first research report dedicated to the tokenized gold market, examining the sector through five lenses: market size, trading volume, holder distribution, gold perpetuals, and lending activity. The report shows that as of July 2026, the global tokenized gold market was worth about $4.56 billion, spanning 14 tokens backed by physical gold and six products that tokenize traditional gold ETF shares. Within that dataset, Matrixdock’s XAUm appears across multiple sections, including market capitalization, holder counts, trading volume, and lending activity. BirdEye does not single out XAUm for a standalone judgment, but its inclusion indicates that the product has entered the firm’s ongoing statistical coverage of the tokenized gold segment. At the time of BirdEye’s count, XAUm had a market cap of about $66 million and roughly 66,100 holder addresses, with around 60,600 of those on Plume. The report also points to a broader change in how the sector is being assessed. BirdEye’s framework goes beyond issuance and market cap, placing equal weight on whether tokenized gold is actively circulating, trading, and being used in lending and other onchain financial applications. That shift, reflected in data across Solana, Sui, BNB Chain, Plume, and other ecosystems, suggests competition in tokenized gold is extending from asset issuance into infrastructure and distribution.

Tether Gold (XAUt) increased its gold reserves by 9.5% in the second quarter, according to a Techub News item citing Cointelegraph. Tether CEO Paolo Ardoino said investors were adding tokenized gold during a weak stretch in the market, with the report tying that demand to a 14.1% drop in gold prices. The update also noted that XAUt’s reserves had already climbed 36% in the first quarter to 707,747 ounces. Tether Gold is now valued at $2.4 billion, making it the largest tokenized commodity by market size in the report. The piece added that XAUt received Islamic finance compliance certification in July. Across the broader tokenized commodities segment, total market value stands at $4.58 billion, while the number of holders has reached 253,000. The figures point to continued growth in tokenized commodity products, with Tether Gold holding the leading position within that category based on the numbers cited in the report.

A new Crystal Foresight report says the stablecoin market contracted for the first time in nearly three years after reaching a record level close to $320 billion in May 2026. By July 14, total supply had dropped to $306.5 billion, down $11.5 billion over 90 days, or 3.6%. The report argues this was not a case of tokens moving between wallets or chains, and not a depeg event, but real redemption-driven destruction that sent dollars back off-chain. The decline was also highly concentrated. USDC, USDe, USDS, USDT and PYUSD accounted for nearly all of the drop, while each token fell for a different reason. Crystal Foresight links USDe and USDS weakness to lower yields, USDC weakness to softer DeFi collateral demand, and USDT’s small decline to strategic positioning outside MiCA and the GENIUS Act framework. PYUSD, meanwhile, was described as vulnerable to incentive changes. The report also separates gold-backed tokens from dollar stablecoins, saying the roughly $900 million decline in PAXG and XAUt reflected a pullback in gold prices rather than changes in stablecoin adoption. On the growth side, USDG, USD1, DAI and RLUSD expanded through subsidies, distribution, or infrastructure channels, though Crystal Foresight said not all of that growth should be read as organic demand.

The global crypto market cap rose to $3.25 trillion with $92 billion in 24-hour volume. Bitcoin traded near $93,000 and kept a 57% market share, while sentiment improved only slightly as the Fear & Greed Index reached 26.

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