Zendaya's Massive Ring on That Finger Sparks Engagement Buzz with Tom Holland at 2025 Golden Globes: See Photos!

Did Zendaya just soft launch an engagement with Tom Holland at the 2025 Golden Globes?

The Challengers star was spotted on the red carpet with what appeared to be a diamond ring on her left-hand ring finger at the ceremony, causing speculation about a possible engagement.

Zendaya, who was nominated for best performance by a female actor in a motion picture musical or comedy, attended the award ceremony in a dramatic custom burnt orange satin dress from Louis Vuitton and matching pointed-toe pumps. Of course, the look was styled by the 28-year-old actress' longtime collaborator and image architect Law Roach.

The star accessorized with a glitzy choker necklace and stunning Bulgari jewelry. She chose a High Jewelry necklace in platinum with 1 oval paraiba tourmaline and over 48 carats of diamonds, a High Jewelry paraiba tourmaline ring and diamond stud earrings.

A second ring worn by Zendaya on her left hand however was more noticeable — the ring appears to be a 5.02ct East-West Cushion Diamond Button Back Ring from the jewelry brand Jessica McCormack. The apparent ring design is listed in the engagement ring section on the brand's website and displays a 5.02ct cushion diamond set on a 18k white and yellow gold band.

DeuxMoi was first to report the ring from the London-based jewelry brand.

Fans speculated over Zendaya's possible engagement and the ring on social media.

"Is that an engagement ring?!?" one user wrote in the comments of an Instagram video shared by PEOPLE.

"The ring 👀," another commenter wrote on a different post.

Representatives for Zendaya and Tom Holland did not immediately respond to PEOPLE's request for comment.

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Zendaya and Holland, 28, have been romantically linked since 2021 and worked together on 2017's Spider-Man: Homecoming and 2021's Spider-Man: No Way Home.

Recently, Holland explained why the couple rarely walk red carpets together. The actor did not join Zendaya at the 2025 Golden Globes and last appeared on the carpet with her at the Los Angeles No Way Home premiere.

In a new interview Men's Health for his January-February 2025 cover, the actor explained: "Because it’s not my moment, it’s her moment, and if we go together, it’s about us."

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Holland and Zendaya will also reportedly star in Christopher Nolan's forthcoming movie, an adaptation of Homer’s The Odyssey set to release in 2026, also featuring performances from Anne Hathaway and Matt Damon, per multiple outlets.

"To be perfectly honest with you, I don't know anything about it," Holland said of the project on a recent episode of the Dish podcast. "I'm super excited. Everything is very, very hush-hush. I met with him, it was awesome. He kind of loosely pitched what it was and I'm sure when he's ready he'll announce what it is."

See PEOPLE's full coverage of the 82nd annual Golden Globes as they're broadcasting live from The Beverly Hilton in Los Angeles on CBS and Paramount+.