Gold Goes Long on Itself: Streamex Bags First Institutional $1M for GLDY Yield Play 🪙

Streamex Corp., the Nasdaq-listed tokenization company behind the gold-backed token GLDY, has secured an initial $1 million institutional allocation to a relative-value strategy run by Metalayer Capital's Aureon Relative Value Fund, 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, declined to comment. The commitment marks the first institutional capital deployed into GLDY and follows a 90-day goals list published by Streamex in August.

The strategy uses GLDY as its long gold position, paired with an offsetting short in gold-linked perpetual futures to construct a delta-neutral trade designed to be largely indifferent to whether gold prices rise or fall. 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. "Converting the first institutional allocations into GLDY was at the top of that list," said Henry McPhie, Streamex's co-founder and chief executive, calling the arrangement "a fundamentally different growth channel than selling to one investor at a time."

For Streamex, capital deployed into the long leg flows into GLDY, expanding the assets under management on which the company earns fees. The $1 million allocation is final, with follow-on investments anticipated, though the remainder of the commitment remains at the investor's discretion and there is no assurance that any additional amount of GLDY will be purchased. GLDY is offered only to eligible investors under exemptions from securities registration, and its holders to date have largely been accredited investors seeking yield.

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 is not compensated based on money the fund raises. The announcement was published September 24, 2026, from Miami, Florida, via Chainwire.

Streamex has completed six consecutive monthly distributions on GLDY, most recently in September, and the company continues to position tokenized commodities as infrastructure for institutional capital allocators.