Tokenized Commodity Holders Surge Past 450,000 Worldwide

The number of wallets holding tokenized commodities has climbed past 452,000, roughly 3.6 times the approximately 126,000 recorded a year earlier, according to data from real-world asset tracker rwa.xyz. About 200,000 of those wallets were added since early August alone, pointing to an acceleration that far outpaces the prior ten months of growth.

Gold Tokens Dominate the Count

Gold-backed tokens account for about 90% of all commodity holders and roughly 71% of sector wallets sit in just three products. Tether Gold (XAUT) leads the field with 143,973 holders, up from 12,233 a year ago, a nearly 12-fold increase, according to rwa.xyz figures. Paxos Gold (PAXG), the second-largest token by market capitalization, trails XAUT by about 31,000 wallets. Matrixdock Gold holds 63,922 addresses and Gold xStock has grown from 780 holders to 41,569, a factor of more than 53.The distributed market capitalisation of tokenized commodities stands at about $5.2 billion, up approximately 6.17% over 30 days, according to rwa.xyz. Ethereum holds $4.92 billion of that total, approximately 95%, with BNB Chain at $85.1 million and Arbitrum at $83.5 million. ParaFi Capital estimated that tokenized gold holders grew 65% year on year in its February 2026 report, a pace that has since steepened.

Retail Platforms Drive Newer Segments

Tokenized exchange-traded funds (ETFs) and stocks, issued through platforms such as xStocks, Robinhood, Ondo Finance and STOx, have shown the sharpest relative gain.Their combined holder count jumped from about 21,000 in early August to approximately 105,000, lifting their share of the sector from 8% to 23%. Robinhood's tokenized SPDR Gold Trust, United States Oil Fund and iShares Silver Trust products alone total 40,713 holders.Cryptopolitan's analysis points to a split in the market: Ethereum hosts large, long-term gold positions, while newer retail wallets cluster on cheaper networks and brokerage-style tokenized products.The trend is visible in the chain distribution: Ethereum holds 183,776 wallets (41%), followed by BNB Chain at 94,289, Plume at 62,157, Solana at 62,154 and Robinhood at 40,713.

Why the Acceleration Matters

The 79% jump in holders over nine weeks suggests that tokenized commodities are moving beyond the early-adopter phase into a broader user base. Gold-backed tokens now rank as the second-largest real-world asset (RWA) category behind tokenized Treasuries, according to Sentora Research. Each XAUT and PAXG token represents one fine troy ounce of physical gold held in vaulted custody, with Paxos regulated by the New York Department of Financial Services (NYDFS) and Tether Gold issued through TG Commodities Limited in the British Virgin Islands.Oil, silver, copper and rare-earth tokens together hold about 42,000 addresses, a small share today but a sign that tokenization is spreading beyond precious metals. Ondo's US Copper Index Fund grew from 26 holders in August to 2,371, indicating growing retail participation in tokenized base-metal exposure on-chain.

What Investors Should Watch Out For

The wallet-count metric tracks addresses, not unique investors, so the true user base is likely smaller. The increase nevertheless points to expanding participation in tokenized commodities, although wallet counts alone do not establish how many individual investors are involved or how the sector compares with the earlier growth of tokenized Treasury products.Whether the pace holds depends on gold prices, regulatory clarity for tokenized securities, and whether Robinhood-style brokerage tokenization converts into lasting on-chain activity.