Tokenised gold products added billions in new value in 2025, outpacing physical bullion and most major gold exchange-traded funds as activity shifted onchain.
Market capitalisation for tokenized gold rose by 177% over the year, while the number of holders nearly tripled with more than 115,000 new wallets added.
Data compiled by Cex.io showed tokenized gold outperforming most other real-world asset categories in both growth and user adoption.
The sector added nearly $2.8 billion in net value in 2025, expanding from roughly $1.6 billion to $4.4 billion.
That increase accounted for almost 25% of total net inflows across the wider real-world asset market.
Growth in tokenized gold exceeded the combined expansion of tokenized stocks, corporate bonds and non-US Treasurys over the same period.
Gold itself had a strong year, with total market value rising more than 67% amid global economic uncertainty.
Even with the rally in physical bullion, tokenized gold expanded 2.6 times faster than the broader gold market.
Most major spot gold ETFs lagged behind onchain products in both growth rate and trading activity.
Tokenised gold recorded an estimated $178 billion in trading volume during 2025, highlighting its growing role in global gold markets.