SPYx, a tokenized tracker certificate designed to mirror the SPDR S&P 500 ETF Trust, has accumulated $18.3 million in deposits across decentralized finance venues, with about $7.9 million of SPYx collateral posted on Morpho and additional lending activity concentrated on Solana via Kamino Finance. The product launched on June 30, 2025, and is backed 1:1 by custodied SPY shares while trading as both an SPL token on Solana and an ERC-20 on Ethereum, allowing round-the-clock and fractional trading. Chainlink supplies the price feed and oracle infrastructure, and FlowDesk supports liquidity. The latest description centers on SPYx within the xStocks suite, differing from earlier information in this topic that described Binance’s SPYb on bStocks with $6.3 million in DeFi deposits after a June 2026 launch. Across the sector, tokenized-stock lending total value locked reached about $23.1 million in July 2026, highlighting both the momentum in on-chain equity wrappers and their still-small scale relative to the more than $500 billion managed by the underlying SPY ETF.