Digital Gold Market Reaches $45 Billion to $55 Billion in Value

Digital gold holdings are estimated at $45 billion to $55 billion, less than 1% of a roughly $13 trillion physical investment gold market, even as tokenized gold trading grows.

The estimate covers tokens backed by physical gold and digital accounts holding gold in vaults. Vaulted accounts make up about 89% of the market, while tokens account for 11%. Gold-backed stablecoins, gold-backed exchange-traded funds and leveraged products are excluded.

Tokenized gold recorded more than $90 billion in cumulative spot trading in the first quarter of 2026, exceeding its volume for all of 2025. Trading volume counts transactions over a period; the $45 billion to $55 billion estimate measures the value of holdings. The figures describe different parts of the market.

In a related investor survey, 33% of respondents said stronger evidence of physical backing would make digital gold more appealing. For another 35%, clearer regulation and consumer protections would make digital gold more appealing.

A five-year base case projects roughly 27% annual growth, bringing the digital gold market to $160 billion to $170 billion by 2031.