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DN Markets / Separate price from rights

Same ticker. Different rights.

Distinguish tokenised exposure from shares and derivatives. Check claims, redemption and price comparability.

Source review · 2026-10-14Documentation, not live pricesNo sign-up required
3curated records
1.1.0Evidence version
28 Oct 2026Next editorial review due

Individual instruments / Dated evidence

One underlying. Different claims.

Six starting records across NVIDIA, Apple and the SPDR S&P 500 ETF. Compare the token issuer with the reference asset, then read the issuer conditions below. These are research records, not verified trading listings.

6 of 6 instruments
Company share reference

NVDAx

NVIDIA xStock

Reference asset
NVIDIA Corporation (NVDA)
Token issuer
Backed Assets (JE) Limited
Instrument structure
Tracker certificate
Documented networks
Ethereum · Solana

Named in the issuer product page. Other deployments and contract addresses have not been verified by DN.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read xStocks rights and redemption conditions
Company share reference

NVDAon

NVIDIA (Ondo Tokenized)

Reference asset
NVIDIA Corporation (NVDA)
Token issuer
Ondo Global Markets (BVI) Limited
Instrument structure
Structured note
Documented networks
Not verified

Not verified per instrument in this review. Confirm the exact chain and contract in issuer documentation before use.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read Ondo Stocks rights and redemption conditions
Company share reference

AAPLx

Apple xStock

Reference asset
Apple Inc. (AAPL)
Token issuer
Backed Assets (JE) Limited
Instrument structure
Tracker certificate
Documented networks
Ethereum · Solana

Named in the issuer product page. Other deployments and contract addresses have not been verified by DN.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read xStocks rights and redemption conditions
Company share reference

AAPLon

Apple (Ondo Tokenized)

Reference asset
Apple Inc. (AAPL)
Token issuer
Ondo Global Markets (BVI) Limited
Instrument structure
Structured note
Documented networks
Not verified

Not verified per instrument in this review. Confirm the exact chain and contract in issuer documentation before use.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read Ondo Stocks rights and redemption conditions
ETF reference

SPYx

SPDR S&P 500 ETF xStock

Reference asset
SPDR S&P 500 ETF Trust (SPY)
Token issuer
Backed Assets (JE) Limited
Instrument structure
Tracker certificate
Documented networks
Ethereum · Solana

Named in the issuer product page. Other deployments and contract addresses have not been verified by DN.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read xStocks rights and redemption conditions
ETF reference

SPYon

SPDR S&P 500 ETF (Ondo Tokenized)

Reference asset
SPDR S&P 500 ETF Trust (SPY)
Token issuer
Ondo Global Markets (BVI) Limited
Instrument structure
Structured note
Documented networks
Not verified

Not verified per instrument in this review. Confirm the exact chain and contract in issuer documentation before use.

Reviewed 2026-10-14. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.

Read Ondo Stocks rights and redemption conditions

Issuer conditions travel with every record.

xStocks

Backed Assets (JE) Limited

Rights
Economic exposure to the reference asset; no underlying shareholder voting or information rights.
Redemption
Issuer redemption with Backed is distinct from selling on a venue. Fees, onboarding and the applicable product terms must be checked.
Access restrictions
US persons and US distribution are excluded. Further country and investor restrictions depend on the issuer and access venue; this directory does not determine eligibility.
Unit basis
Do not assume a wallet balance, wrapped token or corporate-action adjustment represents one unchanged share.

Ondo Stocks

Ondo Global Markets (BVI) Limited

Rights
Debt claim linked to the reference asset, with a security interest held for tokenholders; no underlying shareholder voting or information rights.
Redemption
Issuer onboarding is required. The documentation describes USDon or USDC redemption; USDC settlement depends on swapper liquidity. Check current terms and market availability.
Access restrictions
US persons and US-originating orders are excluded, with additional jurisdiction and investor restrictions. Check the issuer eligibility policy; this directory does not determine eligibility.
Unit basis
Total-return tracking can change the reference units represented by one token over time.

A documented network is not proof that a particular venue supports deposits, withdrawals or trading on it. Never identify a token by ticker alone. Confirm the exact contract, wrapper, unit basis and applicable terms with the issuer. The product-structure comparison below also covers equity-linked perpetuals, which are separate instruments.

DN Evidence Directory

Instrument structure before venue choice.

Use the DN tool

Selective coverage, not a complete market inventory or ranking. Source-backed descriptions sit beside DN research questions. Inclusion does not establish operational status, availability or suitability.

3 of 3 records
Reviewed 2026-10-14. Prices and performance are not collected. Select up to three records to compare their research conditions.
Research recordDocumented exposureConditions to preserveDN diligence questionCompare
Tokenised exposureOndo tokenised stocksReviewed 2026-10-14Issuer-linked exposure to underlying assets with documented redemption rights.Ondo legal and regulatory documentation (opens in a new tab)Ondo important notes and restrictions (opens in a new tab)Ondo describes redemption for then-value and a security interest, but no underlying shareholder voting or information rights. Access restrictions apply.Identify issuer, instrument terms, redemption eligibility, asset segregation and insolvency treatment.
Tokenised exposurexStocks · tokenised equitiesReviewed 2026-10-14Tokenised exposure whose rights differ from direct ownership of the referenced stock.Kraken explanation of tokenised equity rights (opens in a new tab)Kraken describes no direct shareholder voting rights and possible rebasing treatment of dividends. Verify the exact instrument and venue terms.Check issuer documents, contract address, units per token and how distributions affect the token balance.
DerivativexStocks · perpetual contractsReviewed 2026-10-14A derivative referencing an equity-related price, rather than the underlying share.Kraken xStocks perpetual contract guide (opens in a new tab)The reviewed Kraken guide describes cash-settled price exposure without shareholder or dividend entitlement. This is separate from a spot token.Check contract specification, financing, margin, oracle and liquidation rules before comparing with a spot token.

DN Price Comparability Check

A price gap needs a valid reference.

Enter your own observations. The tool has no price feed and cannot verify quotes. DN’s comparison policy requires timestamps within 60 seconds and neither older than 15 minutes.

Premium = token price ÷ (reference price × reference units per token) − 1. Fees, taxes, FX conversion, distributions and execution costs are excluded.

No comparison calculated. Complete the inputs first.

Evidence & methodology

Useful research shows its boundaries.

What this dataset establishes

A selective research directory of benchmark designs, product structures and AI value-chain exposure. Inclusion is editorial coverage, not an investment ranking, endorsement or eligibility determination. No live prices, constituent weights, performance series or execution observations are collected. AI categories and diligence questions are DN interpretations of linked primary sources. Review dates describe our source review, not provider release dates. Individual token records identify issuer and reference asset separately. Network labels are documentary evidence, not verified contracts or trading routes; unverified fields remain explicit.

Reviewed by Decentralised News editorial research. Review due 28 October 2026. After that date, treat these records as historical pending a new published review.

What remains outside scope

No live prices, investment returns, verified trading availability, eligibility decisions, regulatory approvals or audited institutional suitability. Source access does not grant a market-data redistribution licence.

Tools compute locally. No entered prices, weights or worksheet selections are sent by these tools. Existing site analytics and third-party site services remain subject to DN’s privacy policy.

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Third-party source material remains the property of its owners. This download contains DN summaries and source links, not licensed market feeds.

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