Tether has redefined the rules of the financial game by accumulating 116 metric tonnes of gold at the close of the third quarter of 2025. This strategic maneuver places Tether’s gold reserves in a position of power comparable to the official reserves of countries like South Korea. A recent report by Jefferies confirms that the company is now the largest private holder of the metal.
According to data revealed by the financial analysis, the firm acquired around 26 additional metric tonnes during the third quarter of the year 2025. This massive purchase volume represented approximately 2% of all global demand registered in that specific period. On the other hand, these acquisitions exceeded almost 12% of the combined purchases made by the world’s central banks. As a direct result of this institutional buying pressure, the price of gold experienced an increase exceeding 50% in 2025, reaching values close to 4,080 dollars per ounce in November.
The company does not just passively store bars, but is transforming the market structure through strategic investment. Jefferies highlights that Tether keeps most of its assets in Swiss vaults to ensure physical security and transparency. Furthermore, the company has invested more than 100 million in mining stakes and royalties such as Elemental Altus. On the other hand, this aggressive strategy is financed with net profits that exceeded 10 billion dollars through the third quarter, demonstrating unprecedented operational financial solidity in the cryptocurrencies sector.
Will new US regulation be able to curb Tether’s golden expansion in 2026?
The regulatory landscape presents significant challenges following the approval of the GENIUS Act in July 2025. This legislation classified gold holdings as “non-compliant” assets for issuers under strict US jurisdiction. Consequently, Tether is preparing the launch of a new stablecoin named USAT backed exclusively by Treasury bonds. However, the firm preserves its global strategy by maintaining Tether’s gold reserves as a bulwark of stability outside the US. This demonstrates agile adaptation to mitigate regulatory risks without renouncing its diversification of assets.
A crucial part of this inventory, approximately 12 tonnes, directly backs the issuance of the Tether Gold (XAU₮) token. The market capitalization of this digital asset increased drastically to 2.1 billion dollars at the close of the quarter, reflecting investor appetite for tokenized metal. Thus, the company facilitates fractional ownership and on-chain liquidity certified by the LBMA. Also, work is underway on a 200 million treasury initiative to manage and tokenize gold bars improving market efficiency.
Analysts project that the entity could acquire up to 100 additional metric tonnes during the remainder of the fiscal year 2025. If realized, this action would reinforce a sustained price floor for the precious metal in the coming years. Finally, the unusual position of a stablecoin issuer as a large-scale institutional buyer will continue to alter supply and liquidity dynamics in the global market.
