Tether said physical gold reserves backing Tether Gold (XAU₮) reached 827,418 ounces, or about 25.7 tons, at the end of the third quarter. That was up 59% from 16.2 tons at the end of 2025, while total market capitalization reached a record $3.44 billion.
Reserve structure
Tether said XAUT circulation matched physical reserves 1:1, with each token backed by one troy ounce of gold. User holdings grew 73% year to date, adding more than 9 tons of gold exposure. The company said its gold is stored in Switzerland under London Good Delivery standards across 2,057 bars.
Source: BlockBeats English report, published Nov. 4, 2026.