Solana
SPYx tracks the SPDR S&P 500 ETF Trust with 1:1 collateral under the xStocks program, giving non-US investors index exposure with Solana-speed settlement and fractional sizing.
SPY on Solana: the index workhorse, tokenized.
Prism analyst note
SPYx and bCSPX bracket the tokenized-index choice: SPYx for Solana-native, retail-fractional access with distributing-ETF economics; bCSPX for Ethereum DeFi composability with accumulating economics. Both carry issuer-certificate structure risk rather than direct fund ownership. For most non-US buyers the decision reduces to which chain their liquidity lives on.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- SPDR S&P 500 ETF Trust (NYSE: SPY)
- Legal structure
- Tracker certificate (Reg S), Backed Assets (JE) Ltd
- Jurisdiction
- Jersey / Switzerland
- Custodian
- Regulated broker custody of underlying SPY units
- Administrator
- Backed Finance AG
- Oracle / NAV source
- Chainlink (xStocks feeds)
- Reserve information
- 1:1 ETF collateral with proof-of-reserve attestation.
- Transfer restrictions
- Non-US persons only; freely transferable SPL token.
- Investor eligibility
- Non-US persons (Reg S)
- KYC required
- No, permissionless transfers
- Minimum investment
- $1.00
- Launched
- Jun 30, 2025
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. 32K+
Documents & disclosures
Frequently asked
SPYx or bCSPX?+
Same index. SPYx = Solana venue liquidity, distributing underlying; bCSPX = Ethereum/Base, accumulating underlying, deeper DeFi integrations.
