Tether Gold Nears $1.5 Billion After Tokenized Treasury Move

Core Insights - Tether Gold (XAUt) is approaching a market capitalization of $1.5 billion, currently at approximately $1.46 billion, backed by 966 gold bars weighing 11,693.4 kilograms [1] - The total minted supply of XAUt is 375,572.25 ounces, with 261,961.71 ounces (valued at around $1.01 billion) in circulation and 113,610.54 ounces available for sale [2] - The rise in XAUt's market value is aligned with a record-breaking increase in spot gold prices, which recently reached an all-time high of $3,896.49, driven by investor demand for safety amid economic uncertainties [3] Market Performance - Tether Gold has appreciated nearly 46% over the past year and 10% in the last month, positioning it among the top 100 cryptocurrencies by market capitalization [4] - The demand for tokenized gold like XAUt is increasing as investors seek more liquid and accessible alternatives to traditional gold holdings [4] Strategic Developments - Tether is planning to raise at least $200 million for a new Digital Asset Treasury Company (DATCO) focused on tokenized gold, in partnership with Antalpha [5] - DATCO will hold Tether's XAUt tokens and aims to enhance institutional participation in tokenized gold [6] - Tether has previously collaborated with Antalpha, acquiring an 8.1% equity stake and expanding their partnership to improve access to XAUt through collateralized lending and vault services [7] Industry Investments - Tether is diversifying its investments in the gold sector, having invested over $200 million in Elemental Altus and is in discussions with other global mining and royalty companies [8]