Energy Select Sector SPDR Fund xStockXLEx
Energy Select Sector SPDR Fund xStock (XLEx) is a token tracking the underlying shares, backed by dedicated collateral and issued by xStocks through Backed Assets (JE) Limited and distributed through Backed Finance AG with Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Limited as broker. Each token tracks 1.009 underlying shares, 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, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Limited in accounts segregated from the issuer's own funds. Retail investors, professional investors, and qualified investors worldwide can mint and redeem directly with xStocks in USDC, USDG, and USDT after completing KYC, with a USDC 5,000 minimum and instant subscription settlement, and holders have a right to redeem at net asset value with two-to-five-business-day settlement. Residents of the United States, the United Kingdom, Canada and other jurisdictions the issuer restricts cannot mint or redeem with xStocks. Backed Assets (JE) Limited is incorporated in Jersey, is offered under an SEC Regulation S exemption, is offered under an EU-approved prospectus, is structured under the Swiss DLT Act, is issued under Jersey Financial Services Commission consent, and is supervised by the Jersey Financial Services Commission and the Financial Market Authority Liechtenstein. Holder terms are governed by the law of Jersey. XLEx has been issued on public blockchains since March 2026 and is native to 8 networks, including TON, Solana, Ethereum, Ink, BNB Chain, and OP Mainnet.