Wintermute Launches Institutional-Grade Tokenized Gold Trading, Expected Market Size to Reach $15 Billion by 2026

Odaily News: Cryptocurrency market maker Wintermute announced that its OTC desk has officially launched tokenized gold trading services for institutional clients, supporting two major gold-pegged tokens, Pax Gold (PAXG) and Tether Gold (XAUT). This marks the company's formal entry into the tokenized commodities market.

Wintermute stated that it will provide institutional investors with blockchain-settled gold trading exposure through algorithmically optimized spot execution services. The company's CEO, Evgeny Gaevoy, anticipates that with growing institutional demand, the tokenized gold market size is expected to expand to $15 billion by 2026, approximately 2.8 times its current size.

Data shows that in Q4 2025, tokenized gold trading volume surpassed that of five major gold ETFs for the first time, reaching a total trading volume of $126 billion. During the same period, the on-chain gold market capitalization grew by over 80% in three months, rising from approximately $2.99 billion to $5.4 billion, reflecting increasing market demand for 24/7 liquidity and instant settlement.