Tether is making significant moves in the gold market. According to Jeffries' report, as of Q3 2025, the total amount of gold held by Tether has reached 116 tons. Of this, 12 tons are backing the XAUt tokens, and 104 tons are backing USDT.

What’s notable here is the acceleration in purchase pace. In just Q3, they added 26 tons, which is a substantial momentum. The background for the more than 50% increase in gold prices in 2025 can likely be attributed to the presence of large buyers like Tether. Individual investors can't buy such large amounts of gold, but the movements of institutional investors like Tether are clearly driving the overall market.

Even more interesting is the outlook for the future. According to analyst estimates, if Tether allocates half of its projected 15 billion dollars in profit for 2025 to gold assets, it could make an additional purchase of about 60 tons annually. This suggests that the amount of gold holdings could continue to grow significantly.

Tether’s gold strategy goes even deeper. Signs of a full-scale entry into the gold market include a $300 million investment in gold royalty and streaming companies, as well as hiring from HSBC. Looking at these moves, it seems Tether is not just a stablecoin issuer but is trying to build a new business model utilizing physical assets. It’s a development worth watching closely from a market perspective.