Tokenized Commodities Market Statistics 2026: Issuers and Holders

Tokenized commodities held $5.16 billion in distributed value on October 8, 2026, up 6.13% from 30 days earlier, according to RWA.xyz. RWA.xyz’s tokenized commodities market statistics also count another $3.22 billion in represented value, a separate bucket from the distributed tokens that trade between wallets.

Gold still drives the tradable side. Tether Gold and Pax Gold together equal about 92.3% of the distributed figure, and CoinGecko puts the tokenized gold category at $5.86 billion. The figures below cover issuers, holders, trading volume, reserves, silver, energy and diamond tokens, plus how the whole segment compares with the physical gold market. Each figure carries its date and names the platform, issuer, or industry body behind it.

Key Takeaways

• Tokenized commodities reached $5.16 billion in distributed value and $3.22 billion in represented value on RWA.xyz.
• Tether Gold and Pax Gold account for about 92.3% of distributed tokenized commodity value.
• The JMWH energy token, where each token represents one megawatt-hour, carries $2,229,136,800 in value across 165 holders.
• Tokenized gold’s market cap equals roughly 1.2% of the value held in gold ETFs.
• Tether Gold holders climbed 66.31% in 30 days to 143,973.
• Investors bought 53,225 additional XAU₮ tokens in Q2 2026 while gold prices fell 14.1% during the quarter.

Editor’s Choice

• Distributed value: $5.16 billion across tokenized commodities tracked by RWA.xyz.
• Tokenized gold market cap: $5,856,441,430, with $400,724,016 in 24-hour trading volume on CoinGecko.
• Tether Gold reserves: 25,735.58 kilograms of gold in 2,090 bars, per Tether’s October 2 transparency page.
• Sector holders: 453,140 holders, up 38.62% from 30 days earlier.
• Monthly active addresses: 286,876 across tokenized commodities.
• Tokenized silver market cap: $224 million on CoinGecko.

Tokenized Commodities Market Statistics: Size and Value

• RWA.xyz reports $5.16 billion in distributed value, up 6.13% from 30 days earlier, and $3.22 billion in represented value, up 0.06%.
• RWA.xyz lists 138 tokenized commodities as of 10/08/2026.
• Monthly active addresses rose 153.79% from 30 days earlier.
• Represented value makes up about 38.4% of the two RWA.xyz buckets combined.

Source: RWA.xyz, October 2026

About This Data

This article draws on 18 sources dated July to October 2026: 8 RWA.xyz data pages, 2 CoinGecko category pages, 4 Tether and Paxos product and transparency pages, World Gold Council stock data, 1 press release and 2 news reports. Market sizes, holder counts, and returns come from the data platforms, issuer pages, and industry bodies. The press release and news reports cover events, attestation details, the gold-price move and gold purchase totals. Figures update when those sources publish new readings.

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What are tokenized commodities?

RWA.xyz defines the category as tokenized physical commodities, commodity-linked securities, and funds providing exposure to raw materials and natural resources. Each Pax Gold token, for example, is backed by one fine troy ounce of gold stored in LBMA vaults in London. The token is the ownership record, while the metal sits with a custodian.

Largest Distributed Tokenized Commodities by Value

• Tether Gold leads RWA.xyz’s distributed assets at $2,978,056,923, ahead of Pax Gold at $1,783,268,079.
• AZ Gold Reserve from BT Asset Hub holds $127,245,415.
• SLVon, the iShares Silver Trust (Ondo Tokenized), holds $25,260,315.
• Tether Gold’s value is about 1.67 times Pax Gold’s.

Gold tokens dominate this list, so a move in bullion prices shows up almost directly in the sector’s headline value.

Recent Developments

• October 8, 2026: RWA.xyz showed holders of tokenized commodities up 38.62% from 30 days earlier, at 453,140.
• October 2, 2026: Tether’s transparency page listed a USD market cap of $3,414,347,124 for XAUt.
• September 20, 2026: GGD (Global Gold DAO) launched a tokenized physical gold ecosystem on BNB Chain, with each GGT representing the value of 0.001 troy ounces of gold.
• September 2, 2026: A blockchain.news report said Tether’s Q2 2026 attestation showed investors bought 53,225 additional XAU₮ tokens during the quarter.
• July 27, 2026: Kamino Finance opened a PAXG Market on Solana, with an opening borrow rate of 1% APY.

Tokenized Commodities Market Share by Platform

• Tether Holdings leads RWA.xyz’s platform league table at $3.0 billion from 1 asset, followed by Paxos at $1.8 billion.
• Ondo lists 17 tokenized commodity assets worth $45.6 million in total.
• Tether and Paxos together hold about 92.3% of distributed tokenized commodity value.

Source: RWA.xyz, October 2026

Ondo spreads 17 products across less value than Matrixdock carries in one, a reminder that product count and market share move independently in this segment. Similar concentration runs through the wider asset tokenization market data we track.

Tokenized Commodities Share of the RWA Market

• RWA.xyz counts $38.88 billion in distributed real-world asset value and $361.62 billion in represented value.
• Tokenized commodities make up about 13.3% of distributed real-world asset value.
• Tokenized real-world assets have 5,176,400 holders in total, up 37.21% from 30 days earlier.

Source: RWA.xyz, October 2026

How big is the tokenization market?

RWA.xyz tracks $38.88 billion of distributed tokenized real-world assets and $361.62 billion of represented assets, with stablecoins counted separately at $295.09 billion. Commodities form one slice of that distributed total.

Tokenized Gold Market Cap by Token

• CoinGecko puts the tokenized gold market cap at $5.86 billion, a 0.4% change in the last 24 hours.
• XAUT and PAXG make up about 87.7% of CoinGecko’s tokenized gold market cap.
• Kinesis Gold (KAU) carries a market cap of $530,977,812.
• Tether’s own transparency page shows $3,414,347,124 for XAUt, against $3,334,518,244 on CoinGecko and $2,978,056,923 on RWA.xyz.

Worth noting: The three XAUt figures measure different supplies on different dates, since Tether’s page is dated October 2, 2026 and the RWA.xyz and CoinGecko readings October 8, 2026. RWA.xyz shows a token supply of 844,908.49 XAUT against a circulating supply of 724,967.92, and circulating tokens are about 85.8% of the total. Market-cap figures therefore depend on which count a tracker multiplies by price, and on the gold price that day.

Tokenized Gold Trading Volume

• Tokenized gold traded $400,724,016 over 24 hours on CoinGecko.
• XAUT led with $229,343,365 in 24-hour volume, followed by PAXG at $158,414,964.
• RWA.xyz records $7,228,540,227 in monthly transfer volume for Tether Gold across 2,970,591 transfers.
• XAUT’s monthly transfer volume equals about 2.4 times its total value.
• PAXG’s monthly transfer volume equals about 0.82 times its value.

Kinesis Gold traded $187,826 in 24 hours against a $530,977,812 market cap. A token’s market cap says little about how often it trades.

Tether Gold vs Pax Gold Statistics

• Tether Gold has 143,973 holders and 65,919 active addresses over the trailing 30 days.
• Pax Gold has 112,881 holders and 11,964 active addresses over the same window.
• Buying XAUt directly from Tether Gold requires a minimum of 50 fine troy ounces plus a 25 bp fee.
• Paxos says the gold backing PAXG is custodied in LBMA vaults and audited monthly, and that Paxos is regulated by the Office of the Comptroller of the Currency.
• Paxos says attestation reports posted on or after February 28, 2025 are issued by KPMG LLP.

Source: RWA.xyz asset pages, October 2026

Key finding: RWA.xyz still lists WithumSmith+Brown as PAXG’s auditor and NYDFS as its regulator, while Paxos states that KPMG LLP issues its attestation reports. Issuer pages carry the current arrangement, so third-party dashboards are best read for on-chain metrics rather than for custody and audit details.

Tokenized Commodity Holders by Token

• Tether Gold holders rose 66.31% in 30 days to 143,973.
• Pax Gold holders grew 1.95% over the same 30 days.
• Matrixdock Gold has 63,922 holders, down 0.21% from 30 days earlier.
• JMWH holders rose 768.42% in 30 days, to 165.

Tether Gold now has 31,092 more holders than Pax Gold.

Tether Gold Reserves and Backing

• XAU₮ tokens represented 707,747.139 fine troy ounces, approximately 22.01 metric tonnes, at the end of Q2 2026.
• Tether’s October 2 transparency page lists 2,090 gold bars weighing 25,735.58 kilograms.
• That is about 3.73 more tonnes than the Q2 figure.
• Tether International SA de CV acquired 27.1 tonnes of gold in the first half of 2026, averaging 4.5 tonnes per month.

Source: Tether Gold transparency page, Blockchain.News report on Tether’s Q2 2026 attestation

“Even as gold experienced its sharpest quarterly correction in 13 years, customers continued to accumulate XAU₮,” Tether CEO Paolo Ardoino said of the Q2 figures. The company’s reserve reporting sits alongside the Tether stablecoin data it publishes for USDT.

Tether Gold Supply by Blockchain Network

• Ethereum carries 827,417.63 XAUT tokens.
• Avalanche C-Chain carries a bridged supply of 0.16 XAUT.
• Ethereum accounts for about 97.9% of XAUT’s token supply.

PAXG arrived on Solana mainnet on June 25, 2026, and its listing on Kamino is its first use as DeFi lending collateral on the network. Gold collateral now sits beside the stablecoin markets covered in our DeFi lending protocol statistics.

Tokenized Energy, Agriculture and Diamond Statistics

• JMWH represents one megawatt-hour of energy per token and holds $2,229,136,800 in value on the XRP Ledger.
• Justoken’s 6 assets carry $2.94 billion in represented value across 180 holders.
• Justoken’s JSOY_OIL token is valued at $445,486,473, and JSOY at $214,784,084.
• Ctrl Alt’s tokenized diamond collection, Diamonds: AD Collection 1, is valued at $105,198,747.
• JMWH alone equals about 69.2% of the sector’s represented value.

Why it matters: RWA.xyz records $7,021,672,530 in monthly transfer volume for JMWH from just 208 transfers. Represented tokens like this change hands far less often than Tether Gold. Folding represented value into the headline lifts the apparent size of tokenized commodities by about 62.4%.

Tokenized Silver Market Statistics

• CoinGecko values the tokenized silver category at $224 million, a -1.4% change in 24 hours.
• Kinesis Silver (KAG) has a market cap of $217,323,795, about 97.0% of that category.
• The Ondo-tokenized iShares Silver Trust (SLVon) holds $25.26 million across 9,431 holders, up 16.39% in 30 days.
• AZ Silver Reserve from BT Asset Hub holds $7,806,195 and lost 10.01% over one month.

Silver tokens trail gold by a wide margin on both trackers we checked, and our silver investment data covers the physical market they wrap.

Tokenized Commodity Returns by Asset

• Tether Gold returned -7.10% over one month and 3.52% over one year.
• SLVon returned -9.80% over one month and 23.97% over one year.
• JSOY fell 61.68% over one year, while JSOY_OIL gained 34.00%.

Pax Gold posted the same -7.10% one-month and 3.52% one-year return as Tether Gold, since both track an ounce of gold. Returns on these tokens describe the commodity’s price path, not issuer performance.

Tokenized Gold vs the Physical Gold Market

• World Gold Council data puts total above-ground gold at 222,600 tonnes worth $29.0 trillion at end-Q2 2026.
• Gold ETFs hold about 4,000 tonnes, 2% of the stock, worth $0.5 trillion.
• Tether Gold’s reserve equals about 0.643% of the gold held in ETFs.
• Jewelry accounts for about 99,700 tonnes, or 45%, of above-ground gold.

The takeaway: CoinGecko’s tokenized gold market cap equals roughly 1.2% of the value the World Gold Council places in gold ETFs. Tokenized gold remains a small wrapper on a very large asset, which matters more than any single month’s token growth. The broader gold investment statistics show where the bulk of investor gold sits.

Conclusion

Tokenized commodities reached $5.16 billion in distributed value on RWA.xyz, and two gold tokens supply about 92.3% of it. The represented bucket, led by a single energy token, is the number to watch when trackers publish larger totals.

Holder counts are rising faster than value, while silver, energy, and diamond tokens stay small or thinly held. The next quarterly attestations from Tether and the monthly Paxos reports will show whether that holder growth turns into more metal under custody.