SP500 xStock

SP500 xStock is a tokenized representation of the SPDR S&P 500 ETF Trust (SPY), a fund that tracks the S&P 500, a broad-based US stock index. The token is issued under the xStocks brand by Backed Assets (JE) Limited, based in Jersey; by design it is not a cryptocurrency but a financial product linked to the underlying fund shares. The underlying SPY shares trade on NYSE Arca, and according to xStocks documentation the tokens are backed one-to-one by underlying assets held in custody.

SPYx is issued natively on many networks, including Solana, Ethereum, Arbitrum, BNB Chain, TON, Tron, Mantle and Ink, and its CoinGecko listing also includes a Hyperliquid address. While issuance and redemption are carried out on weekdays in line with US exchange hours, the token can also change hands on weekends on supporting exchanges and in DeFi applications. Distributions from the fund are not paid out in cash; they are reinvested after tax withholding and reflected in token balances through an on-chain mechanism called the multiplier.

xStocks are not offered in the US or to US persons; access depends on eligibility conditions that vary by country and platform. The token price may diverge from the ETF's exchange price and net asset value. The value shown on Lzzo.com is DefiLlama's US dollar reference.