{
 "base_date": "2026-06-22",
 "launch_date": "2026-10-24",
 "methodology": "v1.6",
 "note": "Values before the launch date are recalculated from TSM daily archived snapshots (no synthetic data).",
 "code": "TS-GMRI-PEN",
 "name": "TS-GMRI Tokenization Penetration",
 "sources": {
  "tokens_on_chain": "Ethereum mainnet, ERC-20 totalSupply()/balanceOf() via public JSON-RPC",
  "lbma_fix": "https://www.lbma.org.uk/prices-and-data/precious-metal-prices",
  "gold_stock": "https://www.gold.org/goldhub/data/how-much-gold",
  "gold_production": "https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-full-year-2025/supply",
  "silver_stock_and_production": "https://www.silverinstitute.org/wp-content/uploads/2026/04/World-Silver-Survey-2026.pdf"
 },
 "series": [
  {
   "date": "2026-06-22",
   "metals": {
    "gold": {
     "tonnes_in_tokens": 40.04,
     "usd_in_tokens": 5403278581,
     "lbma_fix": {
      "date": "2026-06-22",
      "usd_per_oz": 4196.95
     },
     "vs_stock_pct": 0.044,
     "stock_tonnes": 90800,
     "stock_label": "Certified investment gold: bars and coins, gold ETFs and central banks",
     "stock_as_of": "end of Q2 2026",
     "vs_mine_production_pct": 1.091,
     "mine_production_tonnes": 3671.6,
     "mine_production_year": "2025",
     "association": "World Gold Council",
     "constituents": {
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       "oz": 707747.1,
       "method": "on-chain"
      },
      "PAXG": {
       "oz": 454419.5,
       "method": "on-chain"
      },
      "KAU": {
       "oz": 76717.1,
       "method": "tokens x metal per token (issuer)"
      },
      "PGOLD": {
       "oz": 19354.6,
       "method": "market cap / LBMA fix"
      },
      "XAUM": {
       "oz": 15366.3,
       "method": "tokens x metal per token (issuer)"
      },
      "GGBR": {
       "oz": 5752.0,
       "method": "market cap / LBMA fix"
      },
      "GLDY": {
       "oz": 3082.7,
       "method": "market cap / LBMA fix"
      },
      "DGLD": {
       "oz": 1603.7,
       "method": "tokens x metal per token (issuer)"
      },
      "VNXAU": {
       "oz": 1416.4,
       "method": "tokens x metal per token (issuer)"
      },
      "CGO": {
       "oz": 1253.9,
       "method": "tokens x metal per token (issuer)"
      },
      "XNK": {
       "oz": 482.9,
       "method": "market cap / LBMA fix"
      },
      "GLDT": {
       "oz": 165.1,
       "method": "market cap / LBMA fix"
      },
      "FGLD": {
       "oz": 50.8,
       "method": "market cap / LBMA fix"
      },
      "TGLD": {
       "oz": 17.8,
       "method": "market cap / LBMA fix"
      }
     }
    },
    "silver": {
     "tonnes_in_tokens": 119.55,
     "usd_in_tokens": 255027080,
     "lbma_fix": {
      "date": "2026-06-22",
      "usd_per_oz": 66.35
     },
     "vs_stock_pct": 0.276,
     "stock_tonnes": 43374,
     "stock_label": "Identifiable silver bullion inventories (year-end)",
     "stock_as_of": "end of 2025",
     "vs_mine_production_pct": 0.454,
     "mine_production_tonnes": 26332,
     "mine_production_year": "2025",
     "association": "The Silver Institute (World Silver Survey 2026)",
     "constituents": {
      "KAG": {
       "oz": 3776849.3,
       "method": "tokens x metal per token (issuer)"
      },
      "XAGM": {
       "oz": 66814.3,
       "method": "market cap / LBMA fix"
      }
     }
    }
   },
   "onchain_date": "2026-06-22",
   "all_metals_usd": {
    "usd_in_tokens": 5658305661,
    "vs_stock_pct": 0.046,
    "vs_mine_production_pct": 1.026
   }
  },
  {
   "date": "2026-06-23",
   "metals": {
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     "usd_in_tokens": 5333293830,
     "lbma_fix": {
      "date": "2026-06-23",
      "usd_per_oz": 4135.5
     },
     "vs_stock_pct": 0.044,
     "stock_tonnes": 90800,
     "stock_label": "Certified investment gold: bars and coins, gold ETFs and central banks",
     "stock_as_of": "end of Q2 2026",
     "vs_mine_production_pct": 1.092,
     "mine_production_tonnes": 3671.6,
     "mine_production_year": "2025",
     "association": "World Gold Council",
     "constituents": {
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       "oz": 707747.1,
       "method": "on-chain"
      },
      "PAXG": {
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       "method": "on-chain"
      },
      "KAU": {
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       "method": "tokens x metal per token (issuer)"
      },
      "PGOLD": {
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       "method": "market cap / LBMA fix"
      },
      "XAUM": {
       "oz": 15407.6,
       "method": "tokens x metal per token (issuer)"
      },
      "GGBR": {
       "oz": 7817.2,
       "method": "market cap / LBMA fix"
      },
      "GLDY": {
       "oz": 3061.3,
       "method": "market cap / LBMA fix"
      },
      "DGLD": {
       "oz": 1603.7,
       "method": "tokens x metal per token (issuer)"
      },
      "VNXAU": {
       "oz": 1415.3,
       "method": "tokens x metal per token (issuer)"
      },
      "CGO": {
       "oz": 1247.1,
       "method": "tokens x metal per token (issuer)"
      },
      "XNK": {
       "oz": 480.7,
       "method": "market cap / LBMA fix"
      },
      "GLDT": {
       "oz": 158.2,
       "method": "market cap / LBMA fix"
      },
      "FGLD": {
       "oz": 44.1,
       "method": "market cap / LBMA fix"
      },
      "TGLD": {
       "oz": 19.5,
       "method": "market cap / LBMA fix"
      }
     }
    },
    "silver": {
     "tonnes_in_tokens": 119.68,
     "usd_in_tokens": 239295603,
     "lbma_fix": {
      "date": "2026-06-23",
      "usd_per_oz": 62.19
     },
     "vs_stock_pct": 0.276,
     "stock_tonnes": 43374,
     "stock_label": "Identifiable silver bullion inventories (year-end)",
     "stock_as_of": "end of 2025",
     "vs_mine_production_pct": 0.455,
     "mine_production_tonnes": 26332,
     "mine_production_year": "2025",
     "association": "The Silver Institute (World Silver Survey 2026)",
     "constituents": {
      "KAG": {
       "oz": 3777333.2,
       "method": "tokens x metal per token (issuer)"
      },
      "XAGM": {
       "oz": 70481.6,
       "method": "market cap / LBMA fix"
      }
     }
    }
   },
   "onchain_date": "2026-06-23",
   "all_metals_usd": {
    "usd_in_tokens": 5572589433,
    "vs_stock_pct": 0.046,
    "vs_mine_production_pct": 1.03
   }
  },
  {
   "date": "2026-06-24",
   "metals": {
    "gold": {
     "tonnes_in_tokens": 40.07,
     "usd_in_tokens": 5184842668,
     "lbma_fix": {
      "date": "2026-06-24",
      "usd_per_oz": 4024.45
     },
     "vs_stock_pct": 0.044,
     "stock_tonnes": 90800,
     "stock_label": "Certified investment gold: bars and coins, gold ETFs and central banks",
     "stock_as_of": "end of Q2 2026",
     "vs_mine_production_pct": 1.091,
     "mine_production_tonnes": 3671.6,
     "mine_production_year": "2025",
     "association": "World Gold Council",
     "constituents": {
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       "method": "on-chain"
      },
      "PAXG": {
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       "method": "on-chain"
      },
      "KAU": {
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       "method": "tokens x metal per token (issuer)"
      },
      "PGOLD": {
       "oz": 19840.4,
       "method": "market cap / LBMA fix"
      },
      "XAUM": {
       "oz": 15617.8,
       "method": "tokens x metal per token (issuer)"
      },
      "GGBR": {
       "oz": 7951.4,
       "method": "market cap / LBMA fix"
      },
      "GLDY": {
       "oz": 3109.6,
       "method": "market cap / LBMA fix"
      },
      "DGLD": {
       "oz": 1605.4,
       "method": "tokens x metal per token (issuer)"
      },
      "VNXAU": {
       "oz": 1417.9,
       "method": "tokens x metal per token (issuer)"
      },
      "CGO": {
       "oz": 1253.9,
       "method": "tokens x metal per token (issuer)"
      },
      "XNK": {
       "oz": 485.3,
       "method": "market cap / LBMA fix"
      },
      "GLDT": {
       "oz": 168.6,
       "method": "market cap / LBMA fix"
      },
      "FGLD": {
       "oz": 43.6,
       "method": "market cap / LBMA fix"
      },
      "TGLD": {
       "oz": 21.3,
       "method": "market cap / LBMA fix"
      }
     }
    },
    "silver": {
     "tonnes_in_tokens": 119.62,
     "usd_in_tokens": 233062513,
     "lbma_fix": {
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      "usd_per_oz": 60.6
     },
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     "stock_tonnes": 43374,
     "stock_label": "Identifiable silver bullion inventories (year-end)",
     "stock_as_of": "end of 2025",
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     "mine_production_tonnes": 26332,
     "mine_production_year": "2025",
     "association": "The Silver Institute (World Silver Survey 2026)",
     "constituents": {
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       "method": "tokens x metal per token (issuer)"
      },
      "XAGM": {
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       "method": "market cap / LBMA fix"
      }
     }
    }
   },
   "onchain_date": "2026-06-24",
   "all_metals_usd": {
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    "vs_stock_pct": 0.046,
    "vs_mine_production_pct": 1.029
   }
  },
  {
   "date": "2026-06-25",
   "metals": {
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     "usd_in_tokens": 5151747500,
     "lbma_fix": {
      "date": "2026-06-25",
      "usd_per_oz": 4001.8
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     "vs_stock_pct": 0.044,
     "stock_tonnes": 90800,
     "stock_label": "Certified investment gold: bars and coins, gold ETFs and central banks",
     "stock_as_of": "end of Q2 2026",
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     "mine_production_tonnes": 3671.6,
     "mine_production_year": "2025",
     "association": "World Gold Council",
     "constituents": {
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       "method": "tokens x metal per token (issuer)"
      },
      "PGOLD": {
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      },
      "XAUM": {
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       "method": "tokens x metal per token (issuer)"
      },
      "GGBR": {
       "oz": 7599.9,
       "method": "market cap / LBMA fix"
      },
      "GLDY": {
       "oz": 3056.0,
       "method": "market cap / LBMA fix"
      },
      "DGLD": {
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       "method": "tokens x metal per token (issuer)"
      },
      "VNXAU": {
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      },
      "CGO": {
       "oz": 1253.9,
       "method": "tokens x metal per token (issuer)"
      },
      "XNK": {
       "oz": 478.2,
       "method": "market cap / LBMA fix"
      },
      "GLDT": {
       "oz": 169.1,
       "method": "market cap / LBMA fix"
      },
      "FGLD": {
       "oz": 44.2,
       "method": "market cap / LBMA fix"
      },
      "TGLD": {
       "oz": 21.3,
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      }
     }
    },
    "silver": {
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     "usd_in_tokens": 220610885,
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     "mine_production_tonnes": 26332,
     "mine_production_year": "2025",
     "association": "The Silver Institute (World Silver Survey 2026)",
     "constituents": {
      "KAG": {
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      },
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   },
   "onchain_date": "2026-06-25",
   "all_metals_usd": {
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   }
  },
  {
   "date": "2026-06-26",
   "metals": {
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      "usd_per_oz": 4072.05
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     "vs_stock_pct": 0.044,
     "stock_tonnes": 90800,
     "stock_label": "Certified investment gold: bars and coins, gold ETFs and central banks",
     "stock_as_of": "end of Q2 2026",
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     "mine_production_tonnes": 3671.6,
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     "association": "World Gold Council",
     "constituents": {
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       "method": "tokens x metal per token (issuer)"
      },
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      },
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      },
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       "method": "tokens x metal per token (issuer)"
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      "FGLD": {
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   "date": "2026-06-27",
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  {
   "date": "2026-06-28",
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      },
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      },
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      },
      "GGBR": {
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      },
      "VNXAU": {
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      },
      "CGO": {
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      },
      "XNK": {
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      },
      "GLDT": {
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      },
      "FGLD": {
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     }
    },
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