Bitcoin & Gold Vault
Track record
Since Jan 1, 2023, xBG has rebalanced 53 times: 45 at month end and 8 because an asset drifted past its limit.
Its worst fall was −29.9%, from Jan 28, 2026 to Jun 30, 2026. It has not yet regained that high. Held on their own over the same period, Bitcoin fell as far as −53.1% and gold −28.0%.
About xBG
xBG holds Bitcoin and tokenized gold in equal weights inside one ERC-20 token. PAXG is the main gold token and XAUT is the backup. Holders have a claim on both assets that can be moved or traded at any hour.
Neither asset depends on a central bank, and the two have often moved at different times. Holding them together has meant smaller falls than holding Bitcoin alone, at the cost of some upside in strong Bitcoin years.
xBG is issued by AGVector(BVI) under Regulation S of the U.S. Securities Act of 1933. It is open to qualified investors outside the United States only.
What it holds
| Asset | Held as | Type | Target | Price source |
|---|---|---|---|---|
| Bitcoin BTC | BTC (ERC-20) | Crypto | 50% | CoinMarketCap · BTC |
| Gold XAU | PAXG (ERC-20) | Tokenized gold | 50% | 0.5×PAXG + 0.5×XAUT |
PAXG $4142.24 · mcap $1.80B · 2026-10-05
XAUT $4135.94 · mcap $2.93B · 2026-10-05
Protections for holders
Each xBG token is backed one-for-one by the assets in the vault. There is no lending of vault assets and no leverage beyond what the vault rules allow.
AGVector(BVI) is a special purpose vehicle kept apart from the operating company. If a related company becomes insolvent, vault assets are not part of its estate.
Assets are held by regulated custodians (BitGo, Paxos). AGVector does not hold them itself.
Holdings and NAV can be checked onchain at any time against Chainlink price feeds.
Holdings and custodians
| Asset | Held as | Custodian | Type | Target |
|---|---|---|---|---|
| Bitcoin BTC | BTC (ERC-20) | BitGo | Crypto | 50% |
| Gold XAU | PAXG (ERC-20) | Paxos Trust | Tokenized gold | 50% |
| Gold (backup) XAU | XAUT (ERC-20) | Tether Gold | Tokenized gold | Backup |
PAXG is the main gold token. XAUT takes over if PAXG’s onchain market cap falls below USD 1 billion.
Rebalancing rules
On the last business day of each month, weights go back to 50% Bitcoin and 50% gold. Trades run onchain through the ZapRouter contract and are routed via 1inch.
If Bitcoin rises above 55% or falls below 45% of the vault, it rebalances that day instead of waiting for month end. Weights are checked against Chainlink price feeds.
PAXG is the main gold token. If its onchain market cap drops below USD 1 billion, XAUT takes over. The vault may hold both while it switches.
Bitcoin is held with regulated custodians. If a custodian fails, the Vault Committee can move to another form of Bitcoin within 5 business days.
No leverage, derivatives or synthetic positions. Changing this rule needs a full governance vote.
How NAV is calculated
NAV is priced in USDC from daily closing prices. The gold price is the average of PAXG and XAUT, weighted 50/50. The 0.50% annual management fee is taken a little each day.
The figures on this site are a backtest. The vault starts at $1.00 on Jan 1, 2023 and follows the rules above using daily closing prices, after the management fee. Live onchain NAV will replace them once the vault is deployed.
Offering documents
↗ Regulation S Offering Memorandum
↗ BVI SIBA Private Placement Notice
↗ Terms of Service
↗ Smart Contract (Etherscan)
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xBG tokens have not been and will not be registered under the U.S. Securities Act of 1933. These tokens are issued under Regulation S and are available exclusively to non-U.S. persons who have completed the required KYC/AML verification process (Tier 1) or who access tokens through secondary market venues (Tier 2). U.S. persons are strictly prohibited from accessing, purchasing, or holding these tokens.