The a16z piece shows tokenized gold dominates the on-chain market (~$5B), with silver and other commodities far smaller; gold's liquidity and standardization enable easy tokenization via XAUt and PAXG.Abstract: The article notes that as of May 7, 2026, on-chain tokenized gold (~$5B) dwarfs tokenized silver, ETFs, and other commodities. Gold’s global circulation, standardization, and paper certificate lineage enable straightforward tokenization, mapped to on-chain wallets through XAUt and PAXG. Other tokenized assets—oil, agricultural products, energy, and computing power—are still in early stages with limited market share.

AirdropBlackHole

2026-05-24 04:28:31

Abstract generation in progress

On May 23, a16z crypto published an article stating that the current tokenized commodity market is almost entirely dominated by gold. Citing data from rwa.xyz, it noted that as of May 7, 2026, the on-chain tokenized gold market has reached approximately $5 billion, capturing the vast majority of market share. In contrast, the tokenized silver market is only about $2.81 million, while tokenized gold ETFs (iShare Gold Trust) account for around $1.41 million, with other commodity categories totaling about $2.95 million. a16z pointed out that gold possesses characteristics such as global circulation, standardization, and a long-standing reliance on paper certificate transactions, making it inherently suitable for tokenization. Products like Tether Gold (XAUt) and Pax Gold (PAXG) essentially map ownership of gold stored in vaults to on-chain wallets. It also mentioned that aside from gold, tokenized assets like oil, agricultural products, energy, and computing power are still in very early stages, with relatively limited market share.

XAUUSD-0.74%

RWA-0.45%

XAGUSD-1.51%

XAUT-0.09%

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a16z: Tokenized Commodity Market Largely Dominated by Gold, Reaching $5 Billion

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