Wintermute Expands into Tokenized Gold Trading, Predicts $15B Market by 2026
Wintermute, a leading crypto market maker, has extended its services to institutional clients with the launch of over-the-counter trading for gold-backed tokens. The company now supports PAX Gold and Tether Gold, two of the largest tokenized gold products by market capitalization. Algorithmically optimized spot executions and blockchain-based settlement underscore the platform's modernization of precious metals trading.
CEO Evgeny Gaevoy describes a structural shift in gold markets, mirroring transformations seen in foreign exchange. Institutional participation is driving exponential growth—Q4 2025 trading volume hit $126 billion, surpassing the combined total of the top five gold ETFs. The tokenized gold market could reach $15 billion by 2026 as blockchain efficiency attracts traditional commodity investors.