The Backed CSPX Core S&P 500 (bCSPX) is a tracker certificate issued as an ERC-20 token. It tracks the price of the iShares Core S&P 500 UCITS ETF USD (the underlying), which is designed to deliver the net total return performance of the S&P 500 Index, after fees and expenses.

Backed issues two types of tokenised instruments: bTokens and xStocks. Both are backed 1:1 by the respective underlying assets. bTokens include both equities and fixed income securities, while xStocks focus exclusively on equities.

bCSPX provides blockchain-based exposure to the S&P 500 Index via the iShares Core S&P 500 UCITS ETF. It can be used for portfolio diversification, onchain asset management, or integrated into decentralised applications that support ERC-20 tokens.

bCSPX is structured to give eligible cryptocurrency market participants regulatory-compliant access to the S&P 500’s performance, while maintaining the benefits of blockchain technology. It enables onchain exposure to a diversified portfolio of large-cap U.S. companies through a fully backed instrument.