Wintermute launches institutional-grade tokenized gold trading, expecting the market size to reach $15 billion by 2026

According to The Block, crypto market maker Wintermute announced that its OTC desk has officially launched tokenized gold trading services for institutional clients, supporting two major gold-backed tokens: Pax Gold (PAXG) and Tether Gold (XAUT), marking the company's official 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, expects that as institutional demand grows, the tokenized gold market size is expected to expand to $15 billion by 2026, approximately 2.8 times the current size.

Data shows that in the fourth quarter of 2025, the trading volume of tokenized gold surpassed that of five major gold ETFs for the first time, with 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 the increasing market demand for 24/7 liquidity and instant settlement.