Tether: As of the end of Q3, its XAUT gold reserves totaled approximately 25.7 tonnes, valued at roughly $3.44 billion.

Tether recently released its Tether Gold (XAUT) Q3 2025 Reserve Report. As of September 30, the physical gold reserves backing XAUT totaled 827,418 troy ounces (~25.7 metric tons), a 59% increase from 520,089 troy ounces (~16.2 metric tons) at year-end 2025. Valued at $4,157.41 per ounce, the current market value of these reserves stands at approximately $3.44 billion. The total circulating supply of XAUT is 827,418 tokens, operating under a strict 1:1 peg—each token representing exactly one troy ounce of physical gold. Of this supply, roughly 709,000 tokens have been sold, leaving approximately 118,000 tokens available for sale. All gold is held in Switzerland and meets the London Bullion Market Association (LBMA) Good Delivery standard, stored as 2,057 bars weighing 12.5 kg each—all added to inventory this year.