Wintermute Launches Institutional Tokenized Gold Trading, Projects $15 Billion Market in 2026

Wintermute has launched an institutional over-the-counter (OTC) trading desk for gold-backed digital tokens, offering execution for PAXG (Pax Gold) and XAUT (Tether Gold). The move reflects growing interest in tokenized commodities, even amid broader crypto market downturns.

The desk enables institutions to trade these assets against stablecoins such as USDT and USDC, fiat currencies, and major cryptocurrencies, providing algorithmically optimized spot trading, real-time hedging, and onchain settlement. Tokenized gold allows fractionalized exposure and instant settlement, contrasting with traditional ETFs and bullion custody.

Tokenized Gold Market Shows Rapid Growth

Trading volumes for tokenized gold surpassed those of five major gold ETFs in Q4 2025, reaching $126 billion. Market capitalization for onchain gold climbed from $2.99 billion to $5.4 billion within three months. Wintermute CEO Evgeny Gaevoy projects the sector could expand 2.8x to $15 billion in 2026 as institutional adoption accelerates.

Part of Broader Tokenized Asset Expansion

Tokenized gold trading is part of a larger trend in tokenized real-world assets (RWAs), which includes public-market securities, real estate, and commodities. Research forecasts tokenized assets could surpass $11 trillion by 2030, with tokenized RWAs potentially reaching $2 trillion by 2028, signaling structural shifts in global capital markets.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.