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Tether slows down gold purchases: increased holdings by approximately 6 tons in Q1, totaling about 154 tons of gold held
Golden Finance reports that on May 2nd, according to Reuters, Tether slowed its gold purchases used to back USDT in the first quarter of 2026. The quarterly report shows its gold acquisition dropped to about 6 tons, down from 27 tons in the fourth quarter of last year. As of the end of March, Tether’s gold reserves supporting USDT increased to approximately 132 tons (about $19.8 billion), accounting for about 10% of its reserve structure. The main assets remain approximately $117 billion in U.S. Treasury bonds. Bitcoin reserves are about $7 billion.
Meanwhile, gold reserves backing the gold stablecoin XAUT increased to about 22 tons. The combined holdings of both products amount to approximately 154 tons of gold. Tether previously stated plans to allocate 10% to 15% of its approximately $20 billion portfolio to physical gold, but the related trading team was dissolved in March this year due to management structure restrictions.