Miami, Florida, September 24th, 2026, Chainwire

A systematic investment strategy run by Metalayer Capital has received an initial $1 million institutional allocation that uses GLDY — the gold-backed token of Nasdaq-listed Streamex Corp. — as its long gold position, creating a new channel of demand for the company's yield-bearing tokenized gold, with follow-on investments anticipated.

Streamex Corp. is a Nasdaq-listed technology company building the future of the commodity markets through tokenization, and the commitment represents a test of whether tokenized commodities can draw buyers beyond individual investors. According to a person with knowledge of the matter who is not authorized to speak on behalf of the company, a leading institutional investor made the initial $1 million allocation, with follow-on investments anticipated, to a relative-value strategy that holds GLDY, Streamex's gold-backed token, as its long gold position. The strategy is run by Metalayer Capital, a systematic investment manager, through its Aureon Relative Value Fund. Metalayer Capital was founded by former Two Sigma executives and declined to comment.

The trade pairs GLDY with an offsetting short position in gold-linked perpetual futures — derivative contracts, common in crypto markets, that carry no expiry date — so it is designed to be largely indifferent to whether gold prices rise or fall, the person said. Structures built this way are typically described as delta-neutral, since the offsetting legs are intended to neutralize exposure to the underlying asset's direction. It aims instead to earn the yield GLDY pays, which Streamex targets at 3.5% a year in additional gold generated through a gold-leasing program.

For Streamex, the significance lies in the mechanics: money deployed into the long position goes into GLDY, adding to the assets under management on which the company earns fees.

The initial $1 million allocation is final, with follow-on investments anticipated. Its significance lies in who is buying: it suggests that tokenized securities such as GLDY are drawing interest not only from accredited individual investors but also from the institutional investor community.

In August, Streamex laid out a list of goals for the following 90 days. Converting the first institutional allocations into GLDY stood at the top of that list — a fundamentally different growth channel than selling to one investor at a time. Beyond the initial $1 million, the remainder of the commitment remains at the purview of the investor, and there is no assurance that any additional amount of GLDY will be bought. Whether the anticipated follow-on investments materialize will be the near-term measure of that institutional channel.

The companies have other ties. Metalayer also acts as a liquidity provider for GLDY on certain trading venues and can mint and redeem the token directly with the issuer, the person said. Streamex does not manage or sponsor the fund and is not compensated based on the money the fund raises.

GLDY is offered only to eligible investors under exemptions from securities registration, and its holders to date have largely been accredited investors seeking yield. Streamex has made six consecutive monthly distributions on the token, most recently in September, and publishes its gold reserves through a Chainlink proof-of-reserves feed, which makes the backing independently checkable on-chain.

Yaroslav Provada contact@stratosphere.vip