SPDR S&P 500 ETF Trust (SPYX) price

SPYX tracks SPDR S&P 500 ETF Trust, an index fund that holds a broad basket of stocks according to its index rules. Its price follows the fund's share price, which moves with the combined value of the companies in the index.

Because an index fund spreads its holdings across many companies, trouble at any single company has a limited effect on it. The fund still falls when the broad market falls.

For too long, investing has come with barriers. Borders. Brokers. Limitations. It’s been complicated, costly, and — for millions — out of reach. xStocks were created to change that. xStocks are tokenized stocks. They’re backed 1:1 by the underlying assets, composable with DeFi protocols, compliant with EU regulations, accessible to non-US users, and provide a legal claim to the value of the stock. xStocks enable easy access to 57 US Stocks and ETFs to regular users through top centralized and decentralized exchanges, and can be integrated with other DeFi protocols like any other token.

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SPYX contract address

XsoCS1TfEyfFhfvj8EtZ528L3CaKBDBRqRapnBbDF2W

Ticker

SPYX

Issuer

xStocks

Status

Verified

Market cap

$51.14M

Liquidity

$6.55M

24h volume

$6.88M

Fully diluted value

$72.68M

Holders

90K

SPYX 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. SPYX tracks the price of SPDR S&P 500 ETF Trust, 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 SPYX, and it does not issue, back, or custody the token.

The price of SPYX 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.

When the underlying fund pays a distribution, Backed Finance folds it into the token instead of paying it out, so each SPYX comes to represent slightly more of the fund over time while the number of tokens in your wallet stays the same.

SPYX 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 SPYX comes from on-chain trading alone and can drift from the fund's last close.

The scaling factor for SPYX is 1.0075. It rises as the underlying fund's distributions are folded into the token, so each token represents slightly more of the fund over time while your token count stays the same. Read the factor as accumulated distributions, not as a price change.

Other tokens tracking SPDR S&P 500 ETF Trust