Tokenized gold is emerging as a faster-growing digital wrapper for bullion as gold prices and central bank demand remain elevated. The asset class traded $90.7 billion in the first quarter of 2026, surpassing the $84.6 billion recorded in all of 2025, while market capitalization topped $6 billion in February and added more than 44,500 new holder wallets. The format aims to address longstanding frictions in physical gold ownership and ETF-based exposure by offering blockchain-based tokens backed by allocated bars in vaults and redeemable for metal. Products such as XAUt and PAXG allow fractional ownership, 24/7 transferability, and use as collateral, positioning tokenized gold as a more accessible format for holding bullion rather than a change to the underlying asset itself.