Tokenized commodity adoption continues to expand as more wallets gain exposure to blockchain-based assets.
Recent growth reflects rising demand for tokenized gold, commodity funds, and exchange-traded products.
Meanwhile, newer blockchain networks are attracting holders as established platforms retain most investment capital. The latest figures show how participation across the tokenized commodity market has shifted.
According to RWA.xyz, tokenized commodity holders reached 452,931, compared with approximately 126,000 a year earlier. That represents a 3.6-fold increase, with much of the growth occurring recently.
Since early August, the sector has added 200,000 holders, exceeding the 126,000 gained during the preceding ten months.
ParaFi estimated that PAXG and XAUT holders increased 65% throughout 2025. However, the broader sector recorded 79% growth over the past nine weeks.
These figures represent wallet addresses rather than individual investors, since users can control multiple wallets or hold several tokens.
Tether Gold overtakes Paxos Gold as tokenized commodity holders rise
Tether Gold (XAUT) has emerged as the leading tokenized gold product by holder count, overtaking Paxos Gold (PAXG).
XAUT holders increased from 12,233 last year to 74,544 in August, before reaching 143,973. That represents nearly twelvefold growth, placing XAUT approximately 31,000 holders ahead of PAXG.
Matrixdock Gold follows with 63,922 holders. Together, these three products account for approximately 71% of tokenized commodity wallets.
Meanwhile, tokenized ETFs and stocks from xStocks, Robinhood, Ondo, and STOx have accelerated recent adoption.
Their combined holder count climbed from approximately 21,000 in early August to 105,000. Consequently, their market share increased from 8% to 23%.
Gold xStock recorded particularly strong expansion, rising more than 53-fold from 780 holders to 41,569.
Robinhood’s tokenized SPDR Gold Trust, United States Oil Fund, and iShares Silver Trust collectively account for 40,713 holders. That figure matches Robinhood’s total reported holder count.
Gold still represents approximately 90% of holders. However, oil, silver, copper, and rare-earth products collectively attract roughly 42,000 wallets.
Robinhood’s USO token has 15,211 holders, while Ondo and Robinhood silver products together account for approximately 18,900.
Ondo’s tokenized US Copper Index Fund also expanded from 26 holders in August to 2,371.
Ethereum retains market capital as tokenized commodity adoption expands
Ethereum continues to dominate tokenized commodity valuations despite growing participation across other blockchain networks.
RWA.xyz figures place Ethereum’s distributed market capitalization at $4.92 billion, representing approximately 95% of the sector’s $5.16 billion.
BNB Chain follows with $85.1 million, while Arbitrum holds approximately $83.5 million.
However, holder distribution tells a different story. Ethereum accounts for 183,776 holders, representing approximately 41% of total participation.
BNB Chain has 94,289 holders, followed by Plume with 62,157 and Solana with 62,154. Robinhood accounts for another 40,713.
The figures indicate larger average holdings on Ethereum, while newer networks attract smaller positions.
Arbitrum stands apart, with relatively few holders despite maintaining a valuation close to BNB Chain’s.
Recent wallet growth reflects expanding participation through lower-cost networks and brokerage-linked commodity products, while Ethereum retains most capital.
