Tokenized commodities — measured onchain — OnChain Benchmark

Tokenized commodities — measured onchain — OnChain Benchmark

Ratings / Tokenized commodities

Tokenized commodities measured onchain

$4.27B

1.4% of all measured capital3 instruments4 chains

Tokens backed by a physical commodity held in custody, almost all of it gold. One token, one claim on real metal.

As of 2026-07-31, OnChain Benchmark measures $4.27B across 3 instruments from 3 issuers.

01 · The instruments

All 3 tokenized commodities we measure.

Instrument	Measured	Share	Chains
XAUTTether Gold Tether	$2.45B	57.4%	Ethereum
PAXGPAX Gold Paxos	$1.77B	41.4%	Ethereum
XAUMMatrixdock Gold matrixdock	$51.41M	1.2%	Ethereum, BNB Chain, Solana +1

02 · Where it lives

Tokenized commodities by chain.

99.3% of tokenized commodities

0.5% of tokenized commodities

0.1% of tokenized commodities

0.0% of tokenized commodities

Coverage

What this figure does — and doesn’t — include.

We count an instrument only when we can read its supply onchain andvalue it with a real price. Anything we can’t stand behind is left out rather than estimated — so this figure is a floor, not a guess.

Excluded — 1 instrument

XAUTTether Gold

its latest onchain read is older than the freshness window

How we measure · the full rated universe · by chain