3.66%What VCXX tracks
VCXX tracks Fundrise Innovation Fund, a fund that holds companies from one industry or theme. Its price follows the fund's share price, which moves with the fortunes of that sector.
Because the fund's holdings share the same industry risks, it tends to swing more than a broad index fund and can lead or lag the wider market for long stretches.
About Fundrise Innovation Fund
Fundrise Innovation Fund (VCXX) is issued by xStocks and trades on the Solana blockchain. Fundrise Innovation Fund is verified on Solana's token registry. The price, 24-hour volume and liquidity shown here update live from trading on Solana DEXes.
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How VCXX works
VCXX 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. VCXX tracks the price of Fundrise Innovation Fund, 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 VCXX, and it does not issue, back, or custody the token.
The price of VCXX 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 VCXX doesn't pay distributions, so the value of VCXX reflects price movement alone.
When can you trade VCXX?
VCXX 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 VCXX comes from on-chain trading alone and can drift from the fund's last close.
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