Trade the Tokenized S&P 500 (SPY) on Solana
SPYx is a tokenized S&P 500 ETF issued by Backed Finance (xStocks) as a Token-2022 asset on Solana — broad US-equity exposure in a single on-chain token, tradable around the clock. Strata lists it as a spot SPY/USDC market.
How SPY trades on Strata
Every order flows through Strata's three layers — L1, a fully on-chain central limit order book; L2, market-maker intents that post depth without locking capital per level; and L3, Sonar, Strata's chain-direct liquidity engine that reads on-chain pools directly and renders them as one deep, live book. One signature, zero pop-ups, fully self-custodial.
SPY at a glance
- ▸Underlying: S&P 500 ETF (SPY)
- ▸Token: SPYx, Token-2022 on Solana
- ▸Issuer: Backed Finance (xStocks)
- ▸Market: SPY/USDC spot, self-priced 24/7
Tokenized RWA — you're trading an issuer-collateralized token, not the underlying security directly. Issuer: Backed Finance (xStocks).
SPY — frequently asked
How do I trade SPY on Solana?
Connect a Solana wallet on Strata, fund it with USDC, and trade the SPY / USDC market. Execution takes one signature and is fully self-custodial — your assets move only at the moment the trade fills, with no pop-ups.
Is trading SPY on Strata self-custodial?
Yes. Strata is a non-custodial on-chain order book on Solana. You keep custody of your funds and sign a single transaction to trade — nothing is parked with a third party, and there are no wallet pop-ups per action.
Who issues SPY and what backs it?
SPY is issued by Backed Finance (xStocks) as a Token-2022 asset on Solana, price-aligned to S&P 500 (SPY) and redeemable through the issuer's rails. You're trading an issuer-collateralized token, not the underlying security directly.
Can I trade SPY 24/7?
Yes. Unlike the traditional market for the underlying, the tokenized SPY market on Strata trades 24/7 on-chain — any size, any hour.