abrdn Physical Palladium Shares ETF (PALLX) price

PALLX tracks abrdn Physical Palladium Shares ETF, a fund holding platinum, palladium, or a basket of precious metals in a vault. Its price follows the fund's share price, adjusted for how much of a share each token represents.

Platinum and palladium are used mainly in vehicle catalytic converters, and their markets are small, so prices can move sharply on changes in supply or demand.

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PALLX contract address

XsTTtPA5V19YwHKDv4xeVXNM6kdsQNJvg3MyWkRUckt

Ticker

PALLX

Issuer

xStocks

Status

Verified

PALLX is issued by Backed Finance. Backed Finance issues xStocks through Backed Assets (JE) Limited, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.

What you hold is the token, not the underlying asset. PALLX tracks the price of abrdn Physical Palladium Shares ETF, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Backed Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping PALLX, and it does not issue, back, or custody the token.

The price of PALLX on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.

The asset behind PALLX doesn't pay distributions, so the value of PALLX reflects price movement alone.

PALLX can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of PALLX comes from on-chain trading alone and can drift from the fund's last close.

One PALLX represents 1/5 of a share of the underlying fund, so its price is roughly the fund's share price divided by 5. Nothing is missing; the unit is smaller, which makes the token easier to buy in small amounts.

Other tokens tracking abrdn Physical Palladium Shares ETF