Distinguish tokenised exposure from shares and derivatives. Check claims, redemption and price comparability.
Section source review · 2026-10-23Dated research documentationNo sign-up required
3curated records
1.4.0Evidence version
6 Nov 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
Ethereum and Solana are named by the issuer. Exact contracts and venue deposit/withdrawal support remain unverified; a venue may support different deployments.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Instrument identity and reference asset were rechecked. The retrieved chain labels and abbreviated address did not establish a verified deployment or contract. Confirm the exact issuer chain and full contract before use.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Ethereum and Solana are named by the issuer. Exact contracts and venue deposit/withdrawal support remain unverified; a venue may support different deployments.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Instrument identity and reference asset were rechecked. The retrieved chain labels and abbreviated address did not establish a verified deployment or contract. Confirm the exact issuer chain and full contract before use.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Ethereum and Solana are named by the issuer. Exact contracts and venue deposit/withdrawal support remain unverified; a venue may support different deployments.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Instrument identity and reference asset were rechecked. The retrieved chain labels and abbreviated address did not establish a verified deployment or contract. Confirm the exact issuer chain and full contract before use.
Reviewed 2026-10-23. Contract verification: not performed. Prices, liquidity and current unit ratio are not collected.
Economic exposure to the reference asset; no underlying shareholder voting or information rights.
Redemption
Kraken distinguishes selling on its venue from redeeming with Backed, which can incur additional fees. Check issuer onboarding and product terms. Neither documented backing nor a venue balance establishes immediate exit liquidity; DN has not tested redemption.
Access restrictions
Issuer and venue restrictions must both be checked. Kraken currently lists US, Canada, UK and Australia exclusions for its retail offering; this is not a universal issuer eligibility list. No individual eligibility conclusion is made.
Unit basis
Do not assume a wallet balance, wrapped token or corporate-action adjustment represents one unchanged share.
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 settlement with optional USDC conversion dependent on swapper liquidity. Direct swapper access requires whitelisting and currently has no user interface; confirm the supported route and asset/session conditions. DN has not tested redemption.
Access restrictions
US persons and US-originating buy orders are excluded. The issuer also lists prohibited jurisdictions and investor-category restrictions. EEA availability varies by token and investor category; prospectus approval does not establish personal eligibility or endorse the instrument.
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.
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 2026-10-23. Prices and performance are not collected. Select up to three records to compare their research conditions.
The provider describes a structured note with redemption for then-value and a security interest, without underlying shareholder voting or information rights. Off-hours availability and size limits vary by asset; spreads and price divergence can increase when the reference market is closed.
Kraken describes no underlying shareholder voting or information rights, with dividends reflected through token-balance adjustments. Issuer redemption and a venue sale are different exit routes, with fees and access conditions.
Check issuer documents, contract address, units per token and how distributions affect the token balance.
The Kraken guide describes cash-settled perpetual exposure without share ownership or dividend entitlement. Outside reference-market hours, its stated pricing follows onchain token trading; this does not establish parity with an executable share price.
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.
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. This version combines separately dated section reviews. All four editorial sections now have a completed scoped review. Dataset-level reviewedAt is the oldest completed section date, a conservative freshness baseline; it is not a same-day full review. Section reviews and record dates identify the actual scope. lastFullReviewAt preserves the prior full-review date. Framework references inform DN-authored prompts; they do not endorse this worksheet or certify compliance.
Tokenised-stock evidence retains its 23 October review and 6 November deadline. Crypto-index, AI-stock and institutional framework reviews are dated 25 October and due 8 November. The previously outstanding 28 October institutional review is complete. The earliest next section review is 6 November; publication and download dates do not refresh evidence.
Reviewed by Decentralised News editorial research. Section source review: 2026-10-23. Review due 6 Nov 2026; after that date this scope requires another evidence review.
What remains outside scope
The research dataset contains 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.
Educational research, not investment, legal or tax advice. DN may earn commissions from commercial links elsewhere. This workspace has no paid placement, trading CTA or compensation-based ranking.
