World Gold Council and BGS project digital gold market could reach $700 billion by 2031 as adoption barriers fall.
RWA & Tokenization ·
The digital gold market currently valued at $45–55 billion could expand to $700 billion if barriers to adoption are removed, according to joint research from the World Gold Council and Boston Consulting Group. A five-year base scenario projects the market reaching $160–170 billion by 2031, with potential to climb to $270–280 billion if adoption obstacles diminish faster. Nearly nine in ten surveyed investors indicated willingness to hold digital gold under favorable circumstances.
Four primary factors currently limit growth: trust, access, utility, and cost. Transparency in backing, stronger consumer protections, easier redemption paths, and clearer regulatory frameworks rank among investor priorities for building confidence. Geographic distribution shows stark differences—markets like China, India, and Indonesia where digital gold sells through mainstream channels such as payment apps and banking platforms see investor participation rates as much as seven times higher than less developed markets.
Around 65 percent of latent demand originates from people who do not currently own any gold. Notably, 52 percent of present digital gold investors held no gold prior to their initial digital purchase, yet 92 percent subsequently acquired other gold forms, suggesting digital holdings function as an entry gateway. Awareness of digital gold reaches 50 percent among investors aged 25–34 compared with 23 percent among those 55 and older, indicating younger cohorts are driving adoption.