Backed CSPX Core S&P 500

Backed CSPX Core S&P 500 (BCSPX) is a tokenized tracker certificate that reflects the net total return of the iShares Core S&P 500 UCITS ETF, less fees, brought onto blockchain infrastructure by the Swiss company Backed. It is designed for people who want exposure to a broad basket of large US companies while keeping their assets entirely on-chain, without going through traditional financial intermediaries. The product targets crypto-native users or institutions that want real-world asset exposure without leaving the blockchain environment.

Each BCSPX token is backed one-to-one by the underlying structured product, which is held by Swiss third-party custodians and structured as a bankruptcy-remote book-entry security under Swiss DLT law. Tokens can be issued and redeemed on multiple blockchains, including Ethereum, BNB Chain, Avalanche, Polygon, Gnosis Chain, and Arbitrum. There is no native consensus algorithm or block production associated with BCSPX itself; it relies on the consensus mechanisms of whichever host blockchain it is deployed on.

The data stored for this asset does not include a protocol fee stream, revenue figures, or treasury inflows, so no fee-based measures are available on this page. Backed's project description notes that a fee is deducted from the net total return before it is reflected in the token price, but the specific fee rate is not present in the data provided here. The circulating supply stands at approximately 36,868 tokens at the point-in-time recorded, with 100 percent of supply already issued, zero dilution overhang, and a fully diluted valuation equal to the market cap of 30,356,676 US dollars, meaning no additional tokens are pending.