allChained
View source ↗
Value outstanding
$1.9B
30D change
0.0%
Yield
None
NAV
2300.0000
Management fees
0.25%
Minimum
$0
Redemption
Daily
Launched
23 Jan 2020
Depends onTether
Field coverage 96%Primary-source or on-chain verified 100% of tracked metrics1/1 source documents analyst-verifiedLast reconciled 13 Nov 2026
Overview

What this product is

Each XAUt token represents one troy fine ounce of gold on a London Good Delivery bar.

Underlying asset
Physical Gold
Asset class
Commodity
Product structure
Commodity-Backed Token
Legal structure
BVI Professional Fund
Issuer jurisdiction
British Virgin Islands flagBritish Virgin Islands
Fund domicile
British Virgin Islands flagBritish Virgin Islands
Base currency
USD
Launched
23 Jan 2020
Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.

stETH3.20%10.00%$0$34.16B
ONDO0.00%0.00%$0$15B
wstETH3.50%0.10%$0$14.27B
WBTC0.00%0.00%$0$7.78B
weETH3.80%0.10%$0$7.17B
cbBTC0.00%0.00%$0$6.68B
XAUtthis product0.00%0.25%$0$1.9B
Issuer

Who runs it

Tether LimitedHong Kong flagHong Kong

The issuer of USDT, the largest fiat-backed stablecoin in the digital asset space.

Portfolio

Composition

  • Physical Gold Bullion100.0%
Weighted average maturity
0 days

On-chain history begins 05 Oct 2026 and covers 40 days of readings.

AUM
$1.9B

Assets under management

+0.0% over 40 days held
Yield
0.00%

Yield history. No yield

No on-chain history recorded for this series yet.
NAV
2300.0000

NAV per token

No on-chain history recorded for this series yet.
Movement

Recent daily movement

Net movement $0Over 40 daysChange 0.0%
Direction
13 Nov 2026$1.9B$00.0%
12 Nov 2026$1.9B$00.0%
11 Nov 2026$1.9B$00.0%
10 Nov 2026$1.9B$00.0%
09 Nov 2026$1.9B$00.0%
08 Nov 2026$1.9B$00.0%
07 Nov 2026$1.9B$00.0%
06 Nov 2026$1.9B$00.0%
05 Nov 2026$1.9B$00.0%
04 Nov 2026$1.9B$00.0%
Holdings
Disclosure

Underlying portfolio

Share
Physical Gold BullionAllocated bullion-100.0%
Exposure

What you actually own

Economic exposure is to physical gold. Weighted average maturity is 0 days, which sets how quickly the portfolio reprices as rates move.

Allocated bullion
100.0%
Redemption
Terms

Contractual terms

Redemption frequency
Daily
Dealing cut-off
24/7
Settlement
T+2
Redemption fee
None
Secondary venues
Bitfinex, Kraken
Transfer restrictions
None

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption
Daily · T+2
Off-hours exit
Available continuously
Secondary market
Bitfinex, Kraken
Transferability
Freely transferable after compliance period
Exit fee
No redemption fee
Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Custody

Where the backing assets actually sit.

Markets & settlement

Where it trades and how value moves between venues and chains.

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments
Registry

Networks and contracts

Contract / asset id
EthereumPrimarypublic l10x68749665FF…22782F38100.0%
Counterparties

Service providers

If any of these has a problem, this product is affected.

Administrator
Tether· Hong Kong flagHong Kong
Transfer agent
Tether· Hong Kong flagHong Kong
Tokenization platform
Tether· Hong Kong flagHong Kong
Oracle / attestation
Not disclosed
Access
Classification

Who may hold this

RetailEligible
AccreditedNot eligible
ProfessionalNot eligible
InstitutionalEligible
Minimum investment
$0
Allow-list required
No
Transfer restrictions
None
Geography

Where it is available

United States flagUnited StatesNot available
European Union flagEuropean UnionNot available
Singapore flagSingaporeNot available
United Kingdom flagUnited KingdomNot available
Switzerland flagSwitzerlandNot available
Hong Kong SAR flagHong Kong SARNot available
Explicit prohibitions
  • −United States flagUnited States

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

Net movement $0Over 40 daysChange 0.0%
Direction
13 Nov 2026$1.9B$00.0%
12 Nov 2026$1.9B$00.0%
11 Nov 2026$1.9B$00.0%
10 Nov 2026$1.9B$00.0%
09 Nov 2026$1.9B$00.0%
08 Nov 2026$1.9B$00.0%
07 Nov 2026$1.9B$00.0%
06 Nov 2026$1.9B$00.0%
05 Nov 2026$1.9B$00.0%
04 Nov 2026$1.9B$00.0%
03 Nov 2026$1.9B$00.0%
02 Nov 2026$1.9B$00.0%
01 Nov 2026$1.9B$00.0%
31 Oct 2026$1.9B$00.0%
30 Oct 2026$1.9B$00.0%
29 Oct 2026$1.9B$00.0%
28 Oct 2026$1.9B$00.0%
27 Oct 2026$1.9B$00.0%
26 Oct 2026$1.9B$00.0%
25 Oct 2026$1.9B$00.0%
24 Oct 2026$1.9B$00.0%
23 Oct 2026$1.9B$00.0%
22 Oct 2026$1.9B$00.0%
21 Oct 2026$1.9B$00.0%
20 Oct 2026$1.9B$00.0%
19 Oct 2026$1.9B$00.0%
18 Oct 2026$1.9B$00.0%
17 Oct 2026$1.9B$00.0%
16 Oct 2026$1.9B$00.0%
15 Oct 2026$1.9B$00.0%
14 Oct 2026$1.9B$00.0%
13 Oct 2026$1.9B$00.0%
12 Oct 2026$1.9B$00.0%
11 Oct 2026$1.9B$00.0%
10 Oct 2026$1.9B$00.0%
09 Oct 2026$1.9B$00.0%
08 Oct 2026$1.9B$00.0%
07 Oct 2026$1.9B$00.0%
06 Oct 2026$1.9B$00.0%
05 Oct 2026$1.9B--
Related intelligence

11 events reference this product

12 Nov 2026Infrastructure
Tron, Tether and Chainalysis Launch Joint Task Force to Hunt USDT Crime, Weeks After T3 Unit Collapsed

Tron, Tether, and Chainalysis have established a joint task force focused on combating illicit activity involving USDT, following the collapse of the T3 Financial Crime Unit.

Enhanced on-chain surveillance and direct cooperation between major stablecoin issuers and analytics firms reduce systemic compliance risk for institutional allocators holding USDT. This initiative helps safeguard liquidity pipelines across high-volume networks, directly mitigating regulatory scrutiny and off-ramp friction.

12 Nov 2026Regulation
Tether Gold issuer follows USDT to complete Big Four audit

The issuer of Tether Gold (XAUt) has completed a Big Four audit, aligning its reporting standards with its flagship stablecoin USDT.

Completing a Big Four audit for commodity-backed tokenized assets significantly de-risks institutional custody considerations, narrowing the trust gap between traditional gold vaults and on-chain representations. This transparency standard raises the compliance bar across the tokenized commodity sector, making it easier for institutional allocators to mandate XAUt within regulated portfolios.

10 Nov 2026Adoption
[WDAF 2026] Tether eyes USDT as bridge between Korea, global consumers - The Korea Herald

Tether executives outline strategic plans at WDAF 2026 to position USDT as a primary settlement and liquidity bridge connecting South Korean users and enterprises to global digital asset markets.

Integration into the heavily regulated South Korean financial perimeter would expand USDT's Asian liquidity footprint significantly. However, it also heightens regulatory exposure for Tether under stringent local capital controls and foreign exchange laws, potentially setting a precedent for cross-border stablecoin compliance in the region.

09 Nov 2026Market Structure
Tether's USDT drives a $5.7 billion stablecoin supply drop as bitcoin slides toward $76,000

Tether experienced a significant contraction in circulating supply alongside a broader market drawdown in digital assets.

A multi-billion dollar contraction in primary stablecoin supply indicates rapid deleveraging and liquidity withdrawal from on-chain money markets. For institutional participants, this reduces available dry powder for tokenized asset settlements and increases secondary-market redemption pressure on underlying issuers.

09 Nov 2026Regulation
Binance, Tether, Trump-Linked Crypto Firms Face Senate Probe

US Senators have initiated a congressional probe targeting Binance, Tether, and other crypto entities over regulatory and structural concerns.

Congressional probes into key stablecoin issuers like Tether heighten regulatory scrutiny across the digital asset banking layer. This creates potential compliance headwinds for institutional allocators relying on offshore liquidity rails, potentially accelerating migration toward onshore or strictly regulated tokenized alternatives.

09 Nov 2026Regulation
Binance, Tether and WLFI Face January Deadline in US Senate Investigation

US Senate investigators have set a January deadline for Binance, Tether, and World Liberty Financial regarding ongoing inquiries into compliance and operations.

Heightened congressional scrutiny on major stablecoin issuers and offshore platforms introduces severe regulatory risk for fiat-backed token liquidity. Institutional allocators must factor in potential compliance enforcement or restriction of US-nexus access, which could trigger sudden shifts in stablecoin preference toward strictly onshore or fully transparent alternatives.

07 Nov 2026Adoption
Tether's XAUt Token Earns Shariah Certification for Islamic Investors - CoinMarketCap

Tether Gold (XAUt) has received official Shariah certification, opening up its tokenized physical gold product to Islamic institutional and retail investors globally.

Achieving Shariah compliance removes structural and religious investment barriers for Islamic capital pools, potentially unlocking billions in latent demand for tokenized gold. This certification broadens the addressable market for XAUt, setting a compliance precedent that competing tokenized commodity issuers will need to match to capture Gulf and Southeast Asian allocator flows.

04 Nov 2026Product
Tether Shelves Gold-Backed aUSDT Stablecoin, Shifts Focus to Core Products

Tether has officially discontinued its experimental gold-backed aUSDT stablecoin initiative to reallocate resources toward its flagship products.

Consolidating development away from fringe variants reduces fragmentation within Tether's product suite, directing institutional liquidity purely into core offerings like USDt and XAUt. This rationalization ensures tighter risk management and clearer regulatory compliance pathways for institutional allocators.

04 Nov 2026Adoption
Tether Gold Reserves Surge 59% as Physical Bullion Holdings Hit $3.44B

Tether's physical gold reserves backing XAUt grew by 59%, bringing total physical bullion holdings to $3.44B, reflecting significant institutional allocation into tokenized commodities.

This substantial reserve expansion cements tokenized gold's role as a scalable, digital safe-haven asset, increasing liquidity depth for institutional market makers. The growth directly challenges traditional commodity ETFs by offering on-chain settlement capabilities and frictionless redemption structures.

04 Nov 2026Capital
Tether Gold Bullion Holdings Rise 59% This Year to 25.7 Tons at End of Third Quarter

Tether reported a 59% year-to-date expansion in its physical gold reserves backing XAUt, reaching 25.7 metric tons at the close of Q3.

This substantial reserve expansion underscores the accelerating institutional and retail flight toward on-chain hard-asset proxies amidst macroeconomic uncertainty. For tokenized commodity markets, Tether's scaling solidifies XAUt's position as a dominant liquidity sink, heightening collateral concentration risk within a single issuer while setting a benchmark for reserve transparency.

04 Nov 2026Adoption
Tether and Georgia Launch GELT, a Georgian Lari Stablecoin - CoinMarketCap

Tether collaborates with Georgian authorities/entities to launch GELT, a stablecoin pegged to the Georgian Lari.

The issuance of a sovereign-pegged fiat stablecoin by Tether expands on-chain FX rails and emerging market local currency tokenization. This increases Tether's footprint in regional sovereign digital currency adoption, potentially serving as a structural bridge for local capital markets and cross-border settlement.