Instruments · Tokenized ETFs

Backed S&P 500 (bCSPX)

bCSPXTokenized ETFMedium

Price + accumulating dividends

Yield / return

Token tracking the iShares Core S&P 500 accumulating ETF, issued by Backed with a MiFID II prospectus — one of the few tokenized ETFs explicitly structured for European distribution.

Target / Area

Retail (EU)

No KYC on secondary market · self-custody

Buy on a DEX; primary mint for eligible investors

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

Go to Backed Finance ↗Trader view →

Minimum Fractional · Self-custody · verify with the provider before acting

Where to buy bCSPX

Open in trader view →

bCSPX trades on 1 exchange or DEX. The largest by 24-hour volume:

Venue	Pair	24h volume	Spread
DEXBalancer V2 (Gnosis) ↗	BCSPX/SDAI	$1	0.64%

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: Fractional
Liquidity: DEXs; primary issuance for qualified investors
Custody: Self-custody
KYC: Required to mint

Details

Issuer: Backed Finance
Type: Tokenized ETF
Category: Tokenized ETFs
Pillar: Market Tokens
Tracks: CSPX.L
Underlying ISIN: IE00B5BMR087
Token ISIN: CH1173294237
Yield source: S&P 500 performance (accumulating)
Network: Ethereum / Base (+)
Jurisdiction: Switzerland / Jersey (EU prospectus)
AUM: Smaller

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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 bCSPX and Tokenized ETFs

Buying bCSPX: common questions

How do I buy bCSPX?

Buy on a DEX; primary mint for eligible investors. The issuer names these venues: Kraken, Bybit, Solana DEXs. The token runs on Ethereum / Base (+). Minimum: Fractional.

Where can I buy bCSPX?

bCSPX trades on 1 exchange or DEX. By 24-hour volume the largest are Balancer V2 (Gnosis) (BCSPX/SDAI) (CoinGecko, 2026-10-19). Check that the venue serves your country before you sign up.

Do I need KYC to buy bCSPX?

Not on the secondary market: bCSPX can be bought on a DEX without identity verification. Minting it directly with the issuer does require KYC.

Who can buy bCSPX?

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.