According to Woofun AI, Nasdaq-listed company Streamex Corp. (STEX.US) has successfully attracted institutional capital allocation, with its core tokenized gold product GLDY receiving an initial $1 million investment from a fund under Metalayer Capital. This move is viewed as a key validation milestone for the tokenized commodities market expanding from retail to institutional participation.
The capital was deployed by systematic investment management firm Metalayer Capital through its Aureon Relative Value Fund. Metalayer's founding team originates from former Two Sigma executives and possesses a deep quantitative background. According to data compiled by Woofun AI, the strategy's core involves constructing a delta-neutral position, using GLDY as long gold exposure while simultaneously establishing an equivalent short hedge on gold-linked perpetual contracts, thereby stripping out price volatility risk and purely capturing the additional yield generated by Streamex (STEX.US) through its gold leasing business.
According to disclosures, the strategy aims to achieve an annualized yield of approximately 3.5%, rather than relying on gold price movements. This structural design allows capital inflows to directly translate into GLDY purchase demand, thereby expanding Streamex's (STEX.US) assets under management and generating corresponding fees, achieving a shift from the traditional sales model to a capital absorption model based on yield attractiveness.
Streamex (STEX.US) co-founder and CEO Henry McPhie noted that among the 90-day target list established in August, converting the first batch of institutional capital into GLDY ranked as the top priority. He emphasized that this path of attracting institutional capital through strategic allocation has a fundamentally different growth logic compared to selling products to investors one by one.
Although the initial $1 million investment has been confirmed, the scale of subsequent capital depends entirely on investors' independent willingness, and continuous inflows cannot be guaranteed. It is worth noting that Metalayer has not paid Streamex (STEX.US) any compensation for fund management, nor does Streamex (STEX.US) participate in the management or sponsorship of the fund. The relationship between the two parties is strictly limited to asset issuance and liquidity provision.
Metalayer also provides liquidity services for GLDY on certain trading platforms and directly participates in the minting and redemption of the token, further enhancing market depth and efficiency. In terms of compliance and transparency, GLDY is offered only to qualified investors who qualify for securities registration exemptions, and current holders are primarily institutions and high-net-worth individuals seeking stable yields.
Streamex (STEX.US) has conducted yield distributions for six consecutive months, with the most recent occurring in September, and publicly discloses its gold reserves through Chainlink's proof-of-reserve mechanism to ensure the authenticity of asset backing. With the arrival of the first batch of institutional capital, Streamex (STEX.US) is gradually validating the feasibility of tokenized commodities in institutional asset allocation. This progress may provide a reference model for more traditional financial capital entering the crypto-native commodities space in the future.
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