SPYx
SP500 xStock
Backed Assets (JE) Limited · Jersey · brand xStocks
Mint · solana
economic exposure / wrapperUnderlying: SPDR S&P 500 ETF Trust (SPY · NYSE Arca · ISIN US78462F1030) — exposure, not ownership
On-chain identityConfirmed
Issuer mappingConfirmed
Terms coveragePartial
Source freshnessConfirmed
Rights
What a holder has — and does not have
Instrument categoryTracker certificate — economic exposure / wrapperSourcedproduct
Base Prospectus — Tracker Certificates↗§2 Description of the Certificates
Paraphrase: Certificates are debt instruments of the issuer that track the price of the underlying fund units.
id spyx.categoryreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
What the holder has a claim onA claim against Backed Assets (JE) Limited under the certificate terms — not a fund unitholder position in SPDR S&P 500 ETF TrustSourcedissuer
Base Prospectus — Tracker Certificates↗§4.1 Status of the Certificates
Paraphrase: Certificates constitute direct, secured and unsubordinated obligations of the issuer.
AssetBrief readingHolding SPYx does not make the holder a fund unitholder of SPDR S&P 500 ETF Trust
id spyx.claim_typereviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Voting rightsNone in SPDR S&P 500 ETF TrustSourcedproduct
xStocks documentation↗FAQ › Do I get voting rights?
“Holders of xStocks do not receive voting rights in the underlying company.”
id spyx.votingreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Fund distributionsNet cash amounts reinvested — reflected through the token multiplier, not paid outSourcedproduct
Final Terms — SPYx↗§7 Distributions
Paraphrase: Cash distributions, net of applicable withholding, are reinvested and reflected in the multiplier.
xStocks documentation↗Corporate actions › Dividends
“Dividends are reinvested automatically; your token balance display adjusts.”
id spyx.dividendsreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Corporate actionsSplits and similar events handled by multiplier adjustment per Final TermsSourcedproduct
Final Terms — SPYx↗§8 Adjustment events
Paraphrase: On a split or stock distribution the issuer adjusts the multiplier.
id spyx.corporate_actionsreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Backing statementSource states the certificates are collateralised by the underlying held with a custodianSourcedissuer
Base Prospectus — Tracker Certificates↗§5 Collateral
Paraphrase: Obligations are secured by the underlying assets held by the custodian for the benefit of holders.
AssetBrief readingThis is what the issuer states. AssetBrief does not audit or attest that the collateral exists
id spyx.backingreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Redemption
Who can exit with the issuer, how, and at what cost
Redemption processDirectly with the issuer through an onboarded account — tokens are burned, cash value of the underlying is paidSourcedissuer
Base Prospectus — Tracker Certificates↗§6.2 Redemption by holders
Paraphrase: Eligible holders may request redemption through the issuer's onboarding platform.
id spyx.redemption_processreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Who can redeemOnboarded eligible investors after KYC; not US personsSourcedissuer
xStocks documentation↗Eligibility
“Minting and redemption are available to verified eligible customers only.”
id spyx.redemption_eligibilityreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Redemption minimumNot stated in the reviewed documents for this productUnknownissuer
No reviewed document states this. It stays unknown until a binding source is attached — it is not read as “no limit” or “no fee”
id spyx.redemption_minimumreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Redemption feesPer the issuer fee schedule — amount not fixed in Final TermsSourcedissuer
Final Terms — SPYx↗§9 Fees
Paraphrase: A redemption fee may apply as set out in the issuer's fee schedule.
id spyx.redemption_feesreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Access & venues
Who may hold it and where it trades
Transfer & access restrictionsNot offered to US persons. Token program allows issuer pause, permanent delegate and transfer hookSourcedissuer
xStocks documentation↗Restricted jurisdictions
“xStocks are not available to US persons or residents of restricted jurisdictions.”
AssetBrief readingPause / permanent delegate are read from the mint on-chain, not from documents
id spyx.transferreviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Venue tradingPermissionless Solana pools trade 24/7; that does not open issuer redemption or guarantee an exit without spreadSourcedvenue
xStocks documentation↗Trading › 24/7 markets
“xStocks can be traded on supported on-chain venues at any time.”
id spyx.venuereviewed 1 Nov 2026, 17:12 UTCby rv.lindqvist
Market modes
Three clocks, kept apart. Live status only where a verified calendar exists; trading access by country is never promised
underlying market
NYSE Arca regular session
Mon–Fri 09:30–16:00 America/New_York
Checking calendar…
NYSE holiday & early-close calendar applied
issuer issuance / redemption
Backed Assets onboarding platform
Business days, stated per issuer Europe/Zurich
Live status unknown
No verified issuer calendar — live status not shown
venue trading
Solana on-chain pools
24/7 UTC
Trading
Spreads widen when the underlying market is closed
Sources
Everything this card cites
Version history
Published versions are immutable
v3
Fee wording aligned with Final Terms §991beb4d815e7 · ed.kiran → rv.lindqvist · 1 Nov 2026, 17:12 UTC
publishedv2
Added venue row, split issuer vs venue hoursc9e820dab668 · ed.marta → rv.oduya · 14 Oct 2026, 14:12 UTC
supersededv1
First published card70a38b6350f7 · ed.kiran → rv.oduya · 27 Sep 2026, 18:12 UTC
supersededLimits. Not a legal opinion, trading advice or a reserve attestation. Issuer statements are quoted as the issuer's. “Confirmed mapping” means a source links this mint to the issuer — not that the issuer endorses AssetBrief. Missing fields are unknown, not “no restriction”.