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Streamex Corp., a Nasdaq-listed technology company building the future of commodity markets through tokenization, has secured a commitment of institutional capital — an early test of whether tokenized commodities can draw buyers beyond individual investors.
The Allocation
A leading institutional investor has made an initial $1 million allocation, with follow-on investments anticipated, to a relative-value strategy that uses GLDY — Streamex’s gold-backed token — as its long gold position, according to a person with knowledge of the matter who isn’t authorized to speak on behalf of the company. Metalayer Capital, a systematic investment manager founded by former Two Sigma executives, runs the strategy through its Aureon Relative Value Fund. Metalayer Capital declined to comment.
How the Strategy Works
The strategy pairs GLDY with an offsetting short position in gold-linked perpetual futures, making it largely indifferent to whether gold prices rise or fall. Instead, it aims to capture the yield GLDY pays — which Streamex targets at 3.5% per year in additional gold, generated through a gold-leasing program.
For Streamex, the significance lies in the mechanics: capital deployed into the long position flows into GLDY, adding to the assets under management on which the company earns fees.
 
Why It Matters
The $1 million is final, with more anticipated — but the real significance lies in who is buying. The allocation suggests that tokenized securities like GLDY are drawing interest not only from accredited individual investors, but from the institutional community as well.
“Converting the first institutional allocations into GLDY was at the top of that list,” said Henry McPhie, Streamex’s co-founder and CEO, referring to a set of 90-day goals the company laid out in August. He described the arrangement as “a fundamentally different growth channel than selling to one investor at a time.”
Beyond the initial $1 million, any additional investment remains at the investor’s discretion, and there is no assurance that further GLDY will be purchased.
The Broader Relationship
The two 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. Streamex does not manage or sponsor the fund and isn’t compensated based on the money it raises.
GLDY is offered only to eligible investors under securities-registration exemptions, and its holders to date have largely been accredited investors seeking yield. Streamex has now made six consecutive monthly distributions on the token, most recently in September, and publishes its gold reserves through a Chainlink proof-of-reserves feed.
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