Bybit Boosts XAUT Earn Program as Tokenized Gold Surpasses $4,600

Bybit, the second-largest cryptocurrency exchange by trading volume, has launched a new XAUT Flexible Easy Earn offering under its Bybit Earn platform. This initiative allows users to earn up to 11% APR on tokenized gold (XAUT) holdings, with incentives for smaller investors. The update comes as gold prices surpassed $4,600 an ounce for the first time.

The offering is part of Bybit's response to growing demand for yield generation in the crypto space. Tokenized gold like XAUT offers features such as yield opportunities, fractional ownership, and 24/7 liquidity that are unavailable in physical gold.

The XAUT Flexible Easy Earn product is notable for its tiered APR structure and no lock-up period. Daily interest accrual and withdrawal flexibility are designed to attract a broad range of investors, including those with smaller holdings.

Why Did This Happen?

The rise of tokenized gold is part of a broader trend of real-world asset (RWA) tokenization. In 2025, the tokenized gold market surged 177%, adding $2.8 billion in net value and reaching a $4.4 billion market capitalization.

This growth is driven by several factors, including increasing investor interest in gold as a safe-haven asset. Political and economic uncertainties in 2025 contributed to a 65% rise in gold prices.

The market shift is also supported by technological advancements in blockchain infrastructure. Tokenized gold eliminates storage, insurance, and transportation risks, making it an attractive alternative to physical gold for many investors.

How Did Markets React?

Investor demand for tokenized gold has surged, with XAUT alone accounting for 75% of total tokenized gold trading volume in Q4 2025. This marks a significant increase from 27% in Q3, showing strong adoption.

The broader gold market, both physical and digital, is seeing heightened activity. In 2025, gold prices rose over 67%, outpacing most other asset classes. Tokenized gold's 177% growth in market cap highlights its appeal to a new generation of investors.

Tokenized gold's liquidity is another key factor. It is now the second-largest gold investment product by trading volume globally, trailing only SPDR Gold Shares.

What Are Analysts Watching Next?

Analysts are closely watching how tokenized gold compares with traditional gold ETFs and physical bullion. The sector's growth could redefine how investors allocate capital to gold.

Regulatory clarity and security remain key concerns for the tokenized gold market. While blockchain custody reduces theft and storage risks, investors are still evaluating the legal framework for tokenized assets.

The success of Bybit's XAUT offering could set a new standard for on-chain gold investments. If other exchanges follow suit, tokenized gold may become a dominant form of gold ownership.

Market participants are also monitoring gold's price trajectory. With geopolitical tensions and inflation concerns persisting, demand for gold-backed assets is expected to remain strong.