- Tether added over 6 tons of gold in Q1 2026, bringing total USDT-backed reserves to 132 tons valued near $19.8 billion.
- Gold now makes up about 10% of reserves, alongside $117B in U.S. Treasuries and $7B in Bitcoin holdings.
- Combined gold holdings hit 154 tons, positioning Tether among top global holders while expanding XAUT backing.
Tether increased its gold reserves by more than six tons in the first quarter of 2026. The company disclosed the update Friday, showing total bullion holdings reached about 132 tons by March 31. The purchases lifted the value of its gold reserves to roughly $19.8 billion during a volatile quarter.
Gold Buying Continues Despite Slower Pace
Notably, Tether reduced its pace of gold accumulation compared to the previous quarter. It had acquired about 27 tons between October and December. However, the latest addition still extended a broader accumulation trend seen over the past year.
According to the report, the 132-ton figure shows reserves backing the USDT stablecoin. This marked an increase from 126 tons recorded at the end of December. The rise came despite sharp price swings in global gold markets during the quarter.
Reserve Structure Shows Diversified Backing
Meanwhile, Tether outlined the composition of its reserves supporting USDT circulation. The company reported $189.5 billion worth of tokens in circulation. U.S. Treasury Bills accounted for $117 billion, making up the largest share of reserves.
However, gold represented about 10% of the total reserve pool as of March 31. Bitcoin holdings contributed another $7 billion to the reserve mix. This structure reflects a combination of traditional and digital assets used for backing.
Similarly, Tether also expanded reserves for its gold-backed token, XAUT. The company held 22 tons of gold for this product, up six tons from the previous quarter.
Total Holdings and Operational Adjustments
Taken together, Tether’s combined gold holdings reached approximately 154 tons across both USDT and XAUT products. According to available data, this level would place the firm among the top 20 global holders if compared to central banks. Brazil, for example, holds about 172 tons based on World Gold Council figures.
Separately, CEO Paolo Ardoino said earlier the firm planned to allocate 10% to 15% of its investment portfolio to gold. However, efforts to actively manage gold trading operations faced internal challenges, according to sources familiar with the matter.