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 rails by the Swiss company Backed. It is designed for people who want exposure to a broad basket of large US companies through an on-chain instrument rather than a traditional brokerage account. The product targets users who prefer to keep their capital entirely within blockchain ecosystems while gaining access to an asset class that has historically lived in conventional finance.

Each BCSPX token is issued as a 1:1 backed structured product, meaning one token corresponds to one unit of the underlying certificate, which is itself held by Swiss third-party custodians and classified as a bankruptcy-remote book-entry security under Swiss DLT law. The token can be issued and redeemed across several networks, including Ethereum, Polygon, Arbitrum, Avalanche, BNB Chain, and Gnosis Chain, meaning it does not rely on a single blockchain's consensus mechanism but instead inherits the settlement properties of whichever chain it resides on. There is no native consensus algorithm specific to BCSPX itself; the token is a representation of an off-chain asset rather than a protocol in its own right.

The data stored on this site does not record a fee stream generated by the BCSPX token itself; Backed's documentation notes only that the tracker certificate reflects the underlying ETF's net total return less fees, but the specific fee rate is not present in the data provided here. Because no protocol fee figures are stored, the fee-based measures that this site calculates for other assets cannot be meaningfully populated for BCSPX. The circulating supply stands at 36,868.8137 tokens as a point-in-time figure, and supply issued is recorded at 100% with zero dilution overhang, meaning the entire existing supply is already in circulation with no additional tokens pending issuance.