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 ↗

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

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 may buy is set by the issuer — check their terms (issuer documentation).

The same security, 5 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)

ASPY · Anchored Finance (aStock)

SPY · Dinari

Retail (US)

Compare all 5 side by side →

More in Index ETFs

S&P 500 is filed under Index ETFs (ETFs & Funds). Industry: assigned by hand.

Everything on-chain in Index ETFs →