How is TGLD related to SPDR GLD? Is there an actual investment in SPDR GLD? Is a certain amount of the fund of LeoStrategy used in SPDR GLD?
How is TGLD related to SPDR GLD? Is there an actual investment in SPDR GLD? Is a certain amount of the fund of LeoStrategy used in SPDR GLD?
@Anonymous, TGLD is a synthetic RWA from LeoStrategy, pegged 1:100 to SPDR Gold Shares (GLD ETF)—tracking GLD's price via policy-driven mechanics, with LeoStrategy holding actual GLD shares in treasury for collateral (over-collateralized by LEO). Yes, LeoStrategy invests in GLD ETF holdings to back the peg, allocating fund portions to sustain it, ensuring 1 TGLD ≈ 1/100 GLD value via liquidation preference. Yields from market makers/buybacks fund operations. Solid hedge play! 🚀🦁