<a href="https://www.bybit.com/en/press" rel="noopener noreferrer nofollow">Bybit</a> is emerging as the main hub for tokenized gold trading just as the metal enters a new phase of its macro-driven rally. The exchange said it now accounts for roughly <strong>15.75%</strong> of global spot trading volume in <a href="https://www.bybit.com/en/trade/spot/XAUT/USDT" rel="noopener noreferrer nofollow"><strong>Tether Gold (XAUT)</strong></a> across centralized exchanges, according to <a href="https://www.coingecko.com/en/coins/tether-gold" rel="noopener noreferrer nofollow">CoinGecko</a> data. The shift comes as XAUT trades near record highs around <strong>$5,260</strong>, closely tracking spot gold’s move above the <strong>$5,000</strong> level. Gold’s resurgence has been driven by a familiar mix of forces: inflation uncertainty, geopolitical stress, and continued accumulation by central banks. <img class="size-full wp-image-187639 aligncenter" src="https://financefeeds.com/wp-content/uploads/2026/01/Bybit-Leads-Global-XAUT-Spot-Trading.png" alt="Bybit Leads Global XAUT Spot Trading" width="2048" height="1023">
<h2 id="why-tokenized-gold-is-gaining-momentum">Why tokenized gold is gaining momentum</h2> Gold’s rally is not a short-term technical story. Spot prices climbed more than <strong>64%</strong> in 2024 — the strongest annual performance since 1979 — as investors leaned back into hard assets amid tightening financial conditions and rising geopolitical risk. That momentum has carried into on-chain markets. XAUT, which represents ownership of physical gold stored in vaults, has increasingly been used as a bridge between traditional commodities and crypto-native trading environments. “As long as the macro backdrop remains supportive, and central banks and ETF investors continue to accumulate, gold should have little difficulty printing new highs,” said Han Tan, Chief Market Analyst at Bybit Learn, adding that conditions still favor further upside into 2026. Unlike traditional gold markets, tokenized versions trade continuously. That around-the-clock access has become a draw for traders looking to manage macro exposure outside of conventional market hours. 
<h3 id="investor-takeaway">Investor Takeaway</h3>
<div>
 Tokenized gold is no longer a niche hedge. Rising XAUT volumes suggest traders are actively using gold-backed tokens to balance crypto volatility in real time.
</div>
<h2 id="why-bybit-is-capturing-xaut-liquidity">Why Bybit is capturing XAUT liquidity</h2> <a href="https://financefeeds.com/bybit-p2p-turns-4-with-100k-usdt-rewards-and-lucky-draw/" rel="noopener noreferrer nofollow">Bybit’s</a> rise as the leading centralized venue for <a href="https://financefeeds.com/xaut-price-surges-amid-geopolitical-triple-threat-as-gold-backed-tokens-eye-5000-mark/" rel="noopener noreferrer nofollow">XAUT</a> trading reflects more than just price action. Liquidity depth has become a deciding factor as tokenized RWAs move from novelty to portfolio tool. The exchange has seen strong XAUT activity even during weekends and periods when traditional commodities markets are closed, reinforcing its role as a price discovery venue rather than just a passive listing destination. Emily Bao, Head of Spot at Bybit, said traders are increasingly treating tokenized gold as a core macro asset inside crypto portfolios. “Gold’s resurgence is being mirrored on-chain, and traders are choosing Bybit as their primary venue to trade that exposure efficiently,” she said. That concentration of volume creates a feedback loop. Deeper order books attract larger traders, which in turn reinforces tighter spreads and execution quality — key factors for institutions and high-frequency participants. 
<h2 id="how-traders-are-accessing-xaut-on-bybit">How traders are accessing XAUT on Bybit</h2> Bybit has positioned XAUT as a flexible instrument rather than a single-use product. Traders can access tokenized gold through: 
<ul>
 <li><strong>Spot markets</strong> for direct exposure</li>
 <li><strong>Margin trading</strong> with up to 10x leverage</li>
 <li><strong>Derivatives</strong> with leverage up to 50x</li>
</ul> The exchange also supports XAUT deposits across multiple blockchains, including <strong>Ethereum, Solana, Mantle, Monad,</strong> and <strong>TON</strong>, giving users flexibility in how they move and deploy capital. For more systematic approaches, Bybit offers automated tools such as <strong>DCA strategies</strong>, <strong>recurring buys</strong>, and <strong>grid trading bots</strong>. On-chain integrations further allow traders to combine XAUT exposure with yield and alpha strategies without leaving the crypto ecosystem. 
<h3 id="investor-takeaway">Investor Takeaway</h3>
<div>
 Liquidity leaders tend to stay leaders. If tokenized gold continues to grow as a macro hedge, exchanges dominating early volume may capture durable market share.
</div>
<h2 id="the-broader-shift-toward-on-chain-macro-assets">The broader shift toward on-chain macro assets</h2> Bybit’s XAUT market share reflects a wider change in trader behavior. As crypto markets mature, participants are increasingly looking beyond pure digital assets to on-chain representations of real-world value. Tokenized gold fits that narrative neatly. It offers exposure to a centuries-old store of value, but with the speed, accessibility, and composability of crypto markets. As macro uncertainty persists and demand for inflation-resistant assets remains strong, tokenized RWAs like XAUT are likely to play a larger role in portfolio construction. For now, Bybit appears to be where much of that activity is taking place. Whether the trend continues will depend on macro conditions — but the infrastructure for trading gold on-chain is now firmly in place.

Bybit Becomes Top Venue for XAUT as Tokenized Gold Hits Records

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