Gold ETF Inflows Hit Three-Year High as PAXG, XAUT Outperform Wider Crypto Market
As traditional gold markets heat up, crypto investors are following suit—flocking to tokenized versions of the precious metal that offer both price exposure and digital flexibility.
Gold-backed cryptocurrencies like Paxos Gold (PAXG) and Tether Gold (XAUT) have risen 24.15% and 23.7% respectively year-to-date to new all-time highs above $3,300, roughly matching the performance of spot gold. Their prices have since receded slightly to $3,265 and $3,244, respectively.
While gold-backed cryptocurrencies surged so far this year, the wider cryptocurrency market has been in a downtrend. Bitcoin (BTC) has lost more than 11% of its value so far this year, while the wider crypto market has fallen by a little over 30%, based on the CoinDesk 20 (
