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. When enabled, it appears as a SPY/USDC spot market on Strata.
How SPY trades on Strata
Every Strata market is powered by Sonar, Strata's unified liquidity and matching system. You see one market view and one clear economic result, including expected output, fees, price impact, limits, and expiry where applicable. Trading remains self-custodial on Solana.
SPY at a glance
- ▸Underlying: S&P 500 ETF (SPY)
- ▸Token: SPYx, Token-2022 on Solana
- ▸Issuer: Backed Finance (xStocks)
- ▸Market: SPY/USDC spot
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?
Tokenized assets can be available outside traditional market hours. Check the Strata terminal for the current availability and trading status of SPY.