Nasdaq-listed Tether Gold treasury firm completes $134 million purchase of XAUT

Prestige Wealth announced Tuesday that it has purchased $134 million worth of XAUT — the first Nasdaq-listed corporate treasury composed entirely of Tether Gold.Previously trading under the ticker PWM, Prestige Wealth began trading under the symbol AURE on Monday, and the company plans to be renamed Aurelion pending regulatory approval.The firm bought Tether Gold at the average purchase price of $4,021,81 per XAUT, according to a press release. Tether Gold represents one troy ounce of gold per XAUT token, fully redeemable for LBMA-standard bars stored in Switzerland. Since launching in 2020, the asset has accumulated approximately seven tons of physical gold backing.Gold is currently witnessing its strongest annual rally since the late 1970s, recently breaking fresh all-time highs above $4,100 per ounce — up more than 57% year-to-date.XAU/USD price chart. Image: ."This marks a defining milestone for Aurelion and for the broader adoption of tokenized gold," Aurelion CEO Björn Schmidtke said. "By merging the stability of physical gold with the efficiency and transparency of blockchain, Aurelion is redefining what a modern digital treasury can be. This structure offers daily onchain verification, regulatory compliance and the potential for yield generation."The acquisition comes after Aurelion announced it had raised about $150 million through a $100 million PIPE and a $50 million three-year debt facility on Oct. 10.Institutional digital asset financing firm Antalpha invested $43 million in the PIPE and gained a controlling voting stake in Aurelion, building on its $20 million pilot Tether Gold acquisition earlier this year. Accredited investors, including Tether's XAUT issuing entity TG Commodities and Kiara Capital, also participated in the round, investing $15 million and $6 million, respectively.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.