PANews reported on October 29th that, according to The Block, Tether has released its third-quarter assurance report for its Tether Gold (XAUT) token, stating that each token is fully backed by physical gold bars stored in Switzerland. As of September 30th, Tether's total gold reserves reached 375,572 troy ounces, valued by the issuer at approximately $1.44 billion based on Tether's reference price at the end of the third quarter. The current number of XAUT tokens in circulation is 522,089, with an additional 139,751 tokens available for sale, indicating that additional reserves have been allocated but not yet distributed.

Data shows that since the report was submitted, rising gold prices have pushed the fully-backed market capitalization of XAUT tokens to $2.1 billion, more than doubling from less than $850 million in August. Currently, Tether Gold and PAX Gold together account for nearly 90% of the $3.7 billion tokenized gold market.