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Wintermute has launched OTC trading for tokenized gold tokens Pax Gold PAXG and Tether Gold XAUT following the sector surpassing $126 billion in Q4 2025, exceeding the combined volume of five major gold ETFs. $GUN

This move highlights growing institutional demand for tokenized precious metals, bridging traditional markets and crypto rails, and positioning tokenized gold as a high liquidity alternative to physical and ETF holdings.