SNDKb is recorded in the asset registry as a tokenized-stocks product whose underlying instrument is the common stock of SanDisk Corporation, traded under the ticker SNDK; no issuer structural facts could be sourced for this entry.

The registry identifies the reference instrument as SanDisk Corporation (SNDK) common stock, with each token recorded as tracking that share. The payout or accrual mechanism, dividend treatment, corporate-action handling, and any fees borne by the holder could not be established, because no issuer disclosure page could be fetched and source-attributed under the applicable research rules on the generation date.

The issuer legal entity, jurisdiction of formation, applicable regulator, legal form of the tokenholder claim, eligibility and offering restrictions, redemption rights, custodian of the underlying securities, and any security agent, trustee, or security-interest arrangement protecting tokenholders are all unavailable. Every attempt to fetch the issuer domain failed with an infrastructure-level error on the generation date, and the research rules prohibit substituting third-party snippets, aggregator data, or outside knowledge for these material structural facts. None of these dimensions can be stated for this asset.

The token standard, the set of supported blockchain networks, the mint and redeem mechanics, the settlement timing, and any NAV or oracle publication mechanism are unavailable for this asset, because no issuer technical disclosure page could be fetched and source-attributed under the applicable research rules on the generation date.

<Sources
  retrievedAt="2026-06-21"
  items={[

  ]}
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# Asset holders methodology

## 1. Overview

Asset holders is measured as the number of unique addresses that hold a non-zero balance of a project’s assets. This metric is used by investors to track the expansion or contraction of the asset holder base over time. Data is aggregated daily for each tracked asset across all supported blockchain networks.

## 2. Data sources

- **EVM chain data**: Ledger state and ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others).
- **Solana instructions**: SPL token account data and transfer instructions.
- **Other chain types**: Account and balance data from Aptos, Near, and Polkadot Asset Hub.
- **Asset metadata**: Token contract addresses and decimal precision retrieved from asset metadata.

## 3. Step-by-step calculation

### Component A: Address balance identification

- **Purpose**: Identify all unique addresses associated with a specific token and determine their current holdings.
- **Logic**: For EVM-compatible chains, balances are derived by parsing ERC-20 `Transfer` events or by querying the ledger state for all addresses that have interacted with the token contract. On Solana, account balances are retrieved from the SPL token program. Similar account-based balance records are extracted for Aptos, Near, and Polkadot Asset Hub to identify the population of potential holders.
- **Key fields**: `token_address` (the contract address of the asset), `address` (the unique identifier of the holder), `timestamp` (the time of the state record).

### Component B: Normalization and non-zero filtering

- **Purpose**: Ensure token amounts are accurate and exclude addresses that no longer hold the asset.
- **Logic**: Decimal precision is retrieved from token metadata for each asset. All raw amounts are normalized by decimal precision. A filter is applied to exclude any address where the resulting balance is zero. Only addresses with a positive balance are retained for the final count.
- **Key fields**: `amount` (the normalized quantity of tokens held), `decimals` (the precision factor for the asset).

### Component C: Daily aggregation and gap filling

- **Purpose**: Calculate the final daily count and ensure continuity in the time series.
- **Logic**: Unique addresses are counted for each asset per chain on a daily grain. The data is combined across all chains to provide a total holder count per asset. For days where no new balance changes are recorded, the metric is filled with zero values or the previous known state is maintained to ensure a continuous daily record.
- **Key fields**: `asset_holders` (the count of unique addresses), `timestamp` (the day of the observation).

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique addresses holding a non-zero balance of the asset.

Asset holders

Tokenized stocks

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terms

Real-world asset (RWA) issuers

Binance bStocks

SanDisk (bStocks Tokenized Stock) (SNDKb) is a token tracking SNDK shares, backed by dedicated collateral, issued by Binance bStocks through Btech Holdings Ltd, and distributed through Binance bStocks with Alpaca as broker.

The underlying security is listed in the information technology sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are distributed as additional tokens, carries no voting rights, and carries an annual fee of 0%.

The collateral assets are held by Alpaca Securities LLC in segregated accounts within a bankruptcy-remote structure and Crowe Mak LLP as auditor.

Residents of the United States cannot mint or redeem with Binance bStocks.

Btech Holdings Ltd is incorporated in the United Arab Emirates, is regulated in Abu Dhabi's ADGM, and is supervised by the Financial Services Regulatory Authority.

SNDKb has been issued on BNB Chain as an ERC-20 token since June 2026.

SanDisk (bStocks Tokenized Stock)SNDKb