Ethereum
Steel Dynamics xStock is a backed xstock tracking Steel Dynamics. It is an ERC-20 on Ethereum, so it can be held in any wallet the issuer permits and composed into on-chain applications. Prism verified the contract directly on-chain: it reports the symbol its issuer publishes and a readable supply.
Tokenized exposure to Steel Dynamics, settled on-chain.
Prism analyst note
Steel Dynamics xStock gives economic exposure to Steel Dynamics without holding the security itself. The contract was verified on-chain by Prism. Reference price is the underlying's last close (STLD); the token can trade away from it, and Prism quotes every trade live before you sign.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- Steel Dynamics
- Legal structure
- Swiss DLT tracker certificate issued by a bankruptcy-remote SPV
- Jurisdiction
- Liechtenstein / Switzerland
- Custodian
- Regulated third-party custodian
- Administrator
- Backed Finance AG
- Reserve information
- Collateral arrangements are described in the issuer's own documentation. Prism has verified the contract on-chain but has not independently audited the issuer's reserves.
- Transfer restrictions
- Transferability is checked by simulating a transfer on-chain; see the verification record for the result on this contract.
- Investor eligibility
- Non-US persons (Reg S)
- KYC required
- No, permissionless transfers
- Launched
- Jan 1, 2026
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers.
Documents & disclosures
Frequently asked
Do I own the underlying security?+
No. This is a tokenized instrument giving economic exposure. Rights are defined by the issuer's own terms, not by share ownership.
How was this verified?+
Prism called the contract directly on its chain and confirmed it reports the symbol and decimals its issuer publishes, with a readable non-zero supply. The full record is on the verification page.
Can I trade it right now?+
Prism quotes every trade live at the moment you ask. If no route exists at your size you will see that before signing rather than after.
