Which tokenized gold can I buy — tokens backed by bullion, or tokens on a gold ETF?
8 bullion-backed gold tokens and 7 tokens on gold ETFs are listed here. The two largest by far are XAUT ($2.63B) and PAXG ($1.99B), both one token per troy ounce of vaulted gold. None of them pays a yield: gold earns nothing by itself, and you pay for storage through fees or the spread. Most bullion tokens can be redeemed for metal above a minimum size; ETF tokens follow the fund’s share price and settle in cash.
Two different products are sold as “tokenized gold”. A bullion token gives you a claim on physical gold in a vault — usually one token per troy ounce or per gram — that you can often redeem for metal or cash. A gold ETF token tracks the share of a listed fund such as SPDR Gold Shares (GLD) or iShares Gold Trust (IAU): you own exposure to the fund, which in turn holds the gold, and you can never take delivery of a bar.
Figures from our live dataset · page generated 2026-10-16 · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | Chain |
|---|---|---|---|---|---|
| XAUT Tether Gold | Tether (TG Commodities) | 0% (store of value) | Fractional | Not stated | Ethereum |
| PAXG Pax Gold | Paxos | 0% (store of value) | Fractional | Not stated | Ethereum |
| KAU Kinesis Gold | Kinesis Money | ~3.05% (paid in gold) | From ~$1 (0.01 g) | Not stated | Ethereum / Kinesis |
| XAUM Matrixdock Gold | Matrixdock | 0% (store of value) | Fractional | Not stated | Ethereum / BNB Chain / Sui |
| VNXAU VNX Gold | VNX (Liechtenstein) | 0% (store of value) | Fractional (~1g equivalent) | No KYC on a DEX | Ethereum / Polygon / Solana (+) |
| DGLD Digital Gold | — | Price return | — | Not stated | Ethereum / Solana / Base |
| CGO Comtech Gold | — | Price return | — | Not stated | Xdc Network |
| XAUT0 Tether Gold Tokens | — | Price return | — | Not stated | Hyperevm / Plasma / Avalanche (+11) |
| GLDx Gold ETF (xStocks GLDx) | Backed / Kraken (xStocks) | Price return (gold) | ~$1 | Not stated | Solana (+Ethereum, BNB, Arbitrum, Mantle) |
| GLDon SPDR Gold Shares (Ondo GLDon) | Ondo Global Markets (BVI) | Price return | — | Not stated | Ethereum / BNB Chain / Solana (+1) |
| IAUon iShares Gold Trust (Ondo IAUon) | Ondo Global Markets (BVI) | Price return | — | Not stated | Ethereum / BNB Chain / Hyperevm (+1) |
| FGDLx Franklin Responsibly Sourced Gold ETF xStock | Backed / Kraken (xStocks) | Price return | — | Not stated | Solana / Ethereum (+9) |
| FGDLon Franklin Responsibly Sourced Gold ETF (Ondo FGDLon) | Ondo Global Markets (BVI) | Price return | — | Not stated | Ethereum / BNB Chain / Solana |
| GLD SPDR Gold Trust, SPDR Gold Shares (Dinari GLD) | Dinari | — | — | KYC required | ethereum / base / arbitrum-one / avalanche / hyperevm |
| IAU iShares Gold Trust (Dinari IAU) | Dinari | — | — | KYC required | — |
How to choose
If you want gold you could one day take home, choose a bullion token and check where the vault is, who audits it and what redemption costs. If you only want the gold price in a portfolio next to tokenized stocks, an ETF token is closer to what you would buy at a broker. In both cases you depend on the issuer: a token is only as good as the claim behind it.
More questions
Is XAUT or PAXG better?
Both are one troy ounce of London Good Delivery gold per token. PAXG is issued by Paxos under the supervision of the New York State Department of Financial Services; XAUT by Tether, with gold held in Switzerland. They differ in who stands behind the claim and in how you redeem, not in the gold. There is a page comparing the two in detail.
Can I get physical gold for a gold token?
For bullion tokens, usually yes, above a minimum: often a whole bar for XAUT and PAXG, or smaller amounts at providers such as Kinesis. Fees and the required identity checks are set by the issuer. Tokens on a gold ETF can never be exchanged for metal — they give you the fund’s price, not the bar.
Do gold tokens pay interest?
No. Gold has no coupon. A “yield” on a gold token only comes from lending it out in DeFi, which adds the borrower’s and the protocol’s risk on top of the gold.
Which one has the lowest minimum?
XAUT (Tether (TG Commodities)), with minimum fractional. The highest stated minimum here is GLDx, with minimum ~$1.
Which of them can I buy without KYC?
1 of 15 can be bought on a DEX without identity verification: VNXAU. 2 require KYC to buy. For the rest, the source does not state the secondary-market gate.
Where does the yield come from?
XAUT: No yield — gold price performance. PAXG: No yield — gold price performance. KAU: Share of platform transaction fees ('Holder's Yield'), paid in gold. XAUM: Gold price only — no yield. VNXAU: Gold price only — no yield. GLDx: Gold (GLD ETF) price performance. GLDon: GLD price performance. IAUon: IAU price performance. FGDLx: FGDL price performance. FGDLon: FGDL price performance.
Which is the largest?
By size, XAUT at $2.6B, followed by PAXG at $2.0B and KAU at $330M. Size is not safety, but a larger product usually means a deeper market to sell into.
Are these yields fixed?
1 of 15 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked on 2026-10-16.