SP500 xStock

SPYx is a tokenized stock (an “xStock”) that tracks the price of the S&P 500. xStocks are issued by Backed Finance: each token is backed 1:1 by the underlying security held with a regulated custodian, and the token price follows the stock price. Holding SPYx gives you onchain price exposure — it does not make you a registered shareholder, and it does not carry voting rights.

The underlying asset tracks the SPDR S&P 500 ETF (SPY), the most traded fund in the world and the default benchmark for US equities. Owning SPYx onchain means holding broad exposure to the 500 largest US companies — the same “just buy the index” position that anchors traditional portfolios, now available next to your crypto.

Because SPYx is an SPL token on Solana, it trades around the clock instead of only during market hours, and on Higher you can swap in and out of it with gasless USDC swaps after funding with Apple Pay or a debit card. See the step-by-step guide to buying SPYx on Higher, and always check the live chart above before trading — tokenized stocks can trade at a premium or discount to the underlying when equity markets are closed.