Traditional capital is reshaping the "gold allocation logic," and on-chain assets are beginning to have yield properties.

Aurelion disclosed that it currently holds 33,318 Tether Gold (XAUT), and based on the April 23 price of approximately $4,719 per ounce, the holdings are worth over $157 million.
What is even more noteworthy is its method of fund operation:

It has pledged 10,000 XAUT, turning the original "reserve asset" into a "yield-generating asset."

The remaining 23,318 are still unpledged, maintaining liquidity and rebalancing flexibility.

The core change behind this move is—
Gold is no longer just a passive safe-haven asset but is being financialized and structured for utilization.
From a trend perspective, this releases two important signals:
First, real-world assets (RWA) are accelerating their on-chain mapping;
Second, institutions are beginning to pursue "maximizing asset returns" rather than simply storing value.
When gold also enters a system where it can be pledged and generate yields, the boundary between traditional assets and crypto finance is being broken.
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