Instruments · Tokenized ETFs

S&P 500 (xStocks SPYx)

SPYxTokenized ETFMedium

Price + accumulating dividends

Yield / return

On-chain token 1:1 backed by the S&P 500 ETF (SPY); dividends are auto-reinvested (accumulating). Issued by Backed, distributed via Kraken.

Target / Area

Retail (EU)

Buy on Kraken, optionally withdraw to a Solana wallet

Who may buy is set by the issuer — check their terms.

Go to Backed ↗Trader view →

Minimum ~$1 · Self-custody possible (withdraw to wallet) · verify with the provider before acting

Where to buy SPYx

Open in trader view →

SPYx trades on 29 exchanges and DEXs. The largest by 24-hour volume:

Venue	Pair	24h volume	Spread
CEXLBank ↗	SPYX/USDT	$2.7M	0.20%
DEXRaydium (CLMM) ↗	XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/?	$1.2M	0.60%
CEXMEXC ↗	SPYX/USDT	$533K	0.05%
CEXGate ↗	SPYX/USDT	$528K	0.01%
CEXRaydium (CLMM) ↗	XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/SO11111111111111111111111111111111111111112	$312K	0.60%
DEXByreal	XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/?	$157K	0.60%
CEXKraken ↗	SPYX/USD	$156K	0.01%
DEXRaydium (CLMM) ↗	XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/?	$106K	0.60%

Source: CoinGecko, 2026-10-19 · listed by volume, not a recommendation · check that the venue serves your country

Key facts

Yield / return: Price + accumulating dividends
Risk: Medium (equity market)
Minimum: ~$1
Liquidity: 24/7 (flagships) on Kraken & on-chain
Custody: Self-custody possible (withdraw to wallet)
KYC: Required

Details

Issuer: Backed / Kraken (xStocks)
Type: Tokenized ETF
Category: Tokenized ETFs
Pillar: Market Tokens
Tracks: SPY
Underlying ISIN: US78462F1030
Token ISIN: CH1436219716
Yield source: S&P 500 performance + reinvested dividends
Network: Solana (+Ethereum, TON)
Jurisdiction: Jersey / EU service (CySEC)
AUM: —

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What kind of asset is this? All types explained →

What you actually own

Backed / xStocks · Synthetic tracker

A certificate that tracks the price

Dividends: Reinvested, not paid out
"Dividend payouts will be automatically reinvested into more of the same token" — no cash reaches the holder.
Voting rights: No
Corporate actions: Not confirmed
Redemption: Not confirmed
Backed describes redemption for onboarded, KYC-verified investors; we have not verified the terms for retail holders.
If the issuer fails: A claim on the issuer
Transfer: Freely transferable
Issuing entity: Backed Assets (JE) Limited
Jersey

Kraken's own terms, quoted: holders "do not have ownership in any of the underlying stock or shares of the companies" and have "no voting rights, or distribution entitlements, or legal claims to the underlying stocks". This is the reason the programme sits outside the SEC's Innovation Exemption, which requires the same rights as the share.

checked 2026-09-18 · issuer-docs · source

Who it is aimed at

Target / Area

Retail (EU)

Where it trades: Kraken, Bybit, Solana DEXs

Who can buy — as the issuer states it

YesEU · Retail investors
Through the venues that list it; the token itself is freely transferable. — EEA base prospectus (transferable securities)
checked 2026-09-18 · issuer-docs · source
NoUK · Retail investors
Kraken lists the UK among excluded jurisdictions, with Canada and Australia.
checked 2026-09-18 · issuer-docs · source
NoUS · Accredited investors
Not accessible to US persons, whatever the investor class.
checked 2026-09-18 · issuer-docs · source
NoUS · Retail investors
Not accessible in the US or to US persons. — Offering made outside the US (Regulation S).
checked 2026-09-18 · issuer-docs · source

Quoted from the sources linked, on the date shown. Terms change; the issuer has the final word (issuer documentation).

Questions about SPYx and Tokenized ETFs

Buying SPYx: common questions

How do I buy SPYx?

Buy on Kraken, optionally withdraw to a Solana wallet. The issuer names these venues: Kraken, Bybit, Solana DEXs. The token runs on Solana (+Ethereum, TON). Minimum: ~$1.

Where can I buy SPYx?

SPYx trades on 29 exchanges and DEXs. By 24-hour volume the largest are LBank (SPYX/USDT), Raydium (CLMM) (XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/?), MEXC (SPYX/USDT), Gate (SPYX/USDT), Raydium (CLMM) (XSOCS1TFEYFFHFVJ8ETZ528L3CAKBDBRQRAPNBBDF2W/SO11111111111111111111111111111111111111112) (CoinGecko, 2026-10-19). Check that the venue serves your country before you sign up.

Who can buy SPYx?

As Backed / xStocks states it: EU, retail investors: yes (Through the venues that list it; the token itself is freely transferable); UK, retail investors: no (Kraken lists the UK among excluded jurisdictions, with Canada and Australia); US, accredited investors: no (Not accessible to US persons, whatever the investor class); US, retail investors: no (Not accessible in the US or to US persons). The issuer has the final word; check its terms before buying.

Is owning SPYx the same as owning SPY shares?

No: it is a certificate that tracks the price. With Backed / xStocks, dividends are reinvested, not paid out. There are no voting rights.

What other tokens track SPY?

Besides SPYx, SPY is available as SPYR (Remora Markets), SPYon (Ondo Global Markets (BVI)), SPY.RP (BG El Salvador, S.A. de C.V. (Reality)), SPY.RH (Robinhood Assets (Jersey) Limited), ASPY (Anchored Finance (aStock)), tSPY.SV (MIO 3 MARKETS 1 S.A.S. de C.V.), m.SPY (Monetae Securities, S.A. de C.V.), SPY (Dinari) and more. They track the same security but differ in issuer, legal structure, chain and target market.

The same security, 10 tokens

SPY is not only available as SPYx. The alternatives below track the identical underlying (ISIN US78462F1030) but differ in issuer, chain, structure and the market each issuer aims them at.

SPYR · Remora Markets

SPYon · Ondo Global Markets (BVI)

Professional (EU)

SPY.RP · BG El Salvador, S.A. de C.V. (Reality)

SPY.RH · Robinhood Assets (Jersey) Limited

ASPY · Anchored Finance (aStock)

tSPY.SV · MIO 3 MARKETS 1 S.A.S. de C.V.

m.SPY · Monetae Securities, S.A. de C.V.

SPY · Dinari

Retail (US)

tSPY · S01 Issuer GmbH (ST0x)

Compare all 10 side by side →