As gold and silver hit record highs, tokenized metals saw rapid market cap expansion as investors sought digital representations of bullion. The report highlights growing on-chain demand, improved liquidity, and the appeal of 24/7 settlement and fractionalized access for precious metals exposure.

This opinion piece argues that crypto’s hottest RWA theme is gold. It notes tokenized gold’s value was about $1 billion at the start of 2025 and has since grown significantly as investors rotate into hard-asset exposures amid macro uncertainty and changing risk appetites.

The article explores the rise of gold-backed tokens as stablecoin alternatives, emphasizing their appeal as inflation hedges with the operational efficiencies of blockchain. It discusses the growing traction of tokenized bullion during economic uncertainty and how these tokens may complement or rival fiat-backed stablecoins.

Coverage details the rapid rise in tokenized gold, citing totals around $3 billion versus less than $500 million earlier in the year, alongside elevated daily turnover. The analysis attributes growth to record spot prices and demand for accessible, programmable exposure to physical bullion.