Ticker
SPYX · SPDR S&P 500 ETF Trust
A tokenized form of SPY (SPDR S&P 500 ETF Trust) traded on Kraken xStocks.
Tokenized stockA blockchain token that represents a share held by a custodian. You own the token/certificate, not the share directly.
What SPYX is
SPYX is a tokenized form of the SPDR S&P 500 ETF (SPY) issued by Backed Finance and traded on Kraken xStocks. It gives on-chain, 24/7 exposure to the S&P 500 through a token backed 1:1 by the underlying ETF held in custody. You hold the token, not the ETF shares directly.