NVDA underlying vs NVDA tokenized wrappers

Underlying ticker

NVDA

Underlying company name

NVIDIA

Token name

NVIDIA • Robinhood Token

Token symbol

NVDA

Onchain asset id

0x00000000000000000000000000000000915f477416294f5099a5e0e09f327ce5

Asset status

Active

What the token is, in law

An over-the-counter derivative contract with Robinhood Europe, UAB, regulated under MiFID II. The holder's rights come from that contract; the blockchain token represents them. One token per underlying share or unit.

Issuing entity and supervisor

Robinhood Europe, UAB — a Lithuanian investment firm, legal entity code 306377915, supervised by the Bank of Lithuania. Not the US broker-dealer.

Canonical contract address

0xd0601CE157Db5bdC3162BbaC2a2C8aF5320D9EEC

Chain id

4663

Chain

Robinhood Chain

Registry uniqueness check

Unique. Exactly 1 whitelisted asset carries the ticker NVDA across 96 assets, so the ticker binds unambiguously to the contract address above. A look-alike token using the same ticker would not appear in this registry.

Corporate actions in feed

None. The feed carried 13 processed actions registry-wide and none referenced NVDA.

Current multiplier (shares per token)

1.000000000000000000

Pending multiplier change

Not established.

Full lifetime corporate-action history

Not established.

How corporate actions are applied

By amending the derivative contract and rebasing the token. That rebasing is what the shares-per-token multiplier in the API expresses.

Bid

193.2 USD

Ask

193.22 USD

Quote as-of

2026-07-30T18:39:53.727571396Z

Trading halt

Not halted at quote time.

Underlying daily trading volume

83425208

Underlying daily range

190.18 – 197.25 USD

Token mint/burn volume

7070.578

Mint/burn volume in USD

1366106.37538

Price basis

Raw underlying-equity bid/ask, not multiplier-adjusted. Multiply by the current multiplier above for the token-equivalent value.

True secondary-market depth

There is no secondary market to have depth in. The token is non-transferable and non-assignable: minted when the derivative is opened, burned when it is closed. No resting order book, no realised secondary transfer volume. Every entry and exit is bilateral with Robinhood Europe at the then-quoted price of the underlying.

Underlying tradability by session

Market: whole tradable, fractional tradable · Extended: whole tradable, fractional tradable · Overnight: whole tradable, fractional tradable

Country and investor eligibility

Not established.

Permitted investor category

Retail clients, as defined by Lithuania's Law on Markets in Financial Instruments transposing MiFID II — but only informed ones: the KID restricts the product to retail investors with specific knowledge and experience of similar products who can bear a total loss.

Venue fees

Entry 0.10% and exit 0.10% of the amount, stated as the most that will be charged. Management, administrative, operating and transaction costs are all stated at 0.00% per year, and there is no performance fee. The document's own worked example: EUR 20 total cost on EUR 10,000 held for one year.

Currency-conversion fee

0.10% per transaction on the euro value of the executed FX, charged on the way in and on the way out — this is what the KID's entry and exit costs are. The fee schedule states no other Classic Stock Token trading fee applies. Neither document discloses a spread inside the EUR/USD rate itself.

Token-holder legal rights

No ownership of the underlying share and no shareholder rights — no vote, no proxy, no claim to the share. What the holder has is a contractual claim against Robinhood Europe, UAB, and nothing else.

Redemption for underlying shares

No. Cash-settled only. Exit is a buy-back by Robinhood Europe at the then-quoted price of the underlying, less fees, requested through the app — the token can never be exchanged for a share.

Bankruptcy treatment

Unsecured single-counterparty exposure to Robinhood Europe, UAB. The KID states the Product is not covered by an investor compensation or deposit insurance scheme; no collateral pool, no security trustee, no ring-fenced pool of NVIDIA shares is described. Read alongside rights.investorInsuranceScheme, which reports the firm-level scheme the issuer publishes separately.

Dividend treatment

Dividend amounts pass through as a contractual right under the derivative — not as a shareholder dividend — and the document states they are not guaranteed.

Firm-level investor insurance

Robinhood Europe, UAB participates in Lithuania's Insurance System of Liabilities to Investors, coverage limit EUR 22,000, payable within three months of an insured event; loss of investment value is excluded. This is a firm-level scheme. The KID states separately that this Product is not covered by an investor compensation scheme. EquityLayer does not reconcile the two — both are reproduced as published, and which one governs a Stock Token claim is not settled by the documents reviewed.

Custody and segregation

The derivative positions sit in individual client accounts, segregated from other clients and from Robinhood Europe's own holdings, with no right of use absent explicit consent. Note what this does and does not cover: it is segregation of the derivative position. No pool of underlying NVIDIA shares held for token holders is described anywhere in the documents reviewed.

Underlying ticker

NVDA

Underlying company name

NVIDIA Corporation (ISIN US67066G1040, LEI 549300S4KLFTLO7GSQ80).

Token symbol

NVDAx — the issuer's Product Nr. 19.

Issuer

Backed Assets (JE) Limited — a Jersey private limited company acting as a dedicated issuance vehicle, registered with the Jersey Financial Services Commission, trading as xStocks.

Onchain asset id

CH1436219195 — the issuer's ISIN for NVDAx. The issuer identifies the series by ISIN, not by an onchain id.

Asset status

Not established.

What the token is, in law

An open-ended tracker certificate — a debt instrument of the issuer, securitised as a ledger-based security (Registerwertrecht) under art. 973d of the Swiss Code of Obligations. Not a share, not a fund unit, and it pays no interest. The token is the certificate.

Named service providers

Brokers and custodians: Maerki Baumann & Co. AG, InCore Bank AG, Alpaca Securities LLC. Security Agent: Security Agent Services AG (Zug). Tokenizer: Backed Finance AG, the issuer's parent.

Canonical contract address

Three securities-ledger addresses are named for NVDAx: 0xc845b2894dbddd03858fd2d643b4ef725fe0849d, EQCvaOf7acQdU_piADdlcbzsFtA-xJwZoctz8ZOXBdBoaB8, and Xsc9qvGR1efVDFGLrVsmkzv3qi45LTBjeUKSPmx9qEh. The Final Terms do not say which address belongs to which network — see contract.solanaMint for the one the issuer labels Solana.

Chain

Solana (SPL) and Ethereum (ERC-20), per the issuer's product page. The Final Terms name a third securities-ledger address that neither document assigns to a network.

Chain id

Not established.

Registry uniqueness check

Anchored to one named address, not enumerated. The Final Terms for Product Nr. 19 name exactly one Solana securities-ledger address for NVDAx, so a same-ticker mint at any other address is not this product. But Backed publishes no single whitelist counted by ticker, so this is an anchor to a named address rather than the registry-wide uniqueness measurement the Robinhood adapter performs.

Solana SPL mint address

Xsc9qvGR1efVDFGLrVsmkzv3qi45LTBjeUKSPmx9qEh. The Final Terms list this address as one of three securities ledgers for the Product; the issuer's own product page is what identifies it as the Solana one. No third-party listing, explorer, or exchange help page was used.

Denomination basis

Variable denomination, tracking the underlying price 1:1. This is the documented basis, not an observed shares-per-token ratio at any instant — see corporateActions.currentMultiplier, which stays Unknown.

Corporate actions in feed

Not established.

Current multiplier (shares per token)

Not established.

Pending multiplier change

Not established.

Full lifetime corporate-action history

Not established.

How corporate actions are applied

Through 'Adjustment Events'. Splits, delistings, capital increases and special dividends all qualify. The issuer decides — at its own discretion, without investor consent — whether one has occurred and what adjustment to make. No fixed formula is published.

Dividend treatment

Dividends are never paid out. They are accumulated net of taxes and folded into the underlying's reference value by rebasing, so a distribution shows up in the token's value rather than as cash.

Bid

Not established.

Ask

Not established.

Quote as-of

Not established.

Trading halt

Not established.

Underlying daily trading volume

Not established.

Token mint/burn volume

Not established.

True secondary-market depth

Not established.

Total issue volume cap

Up to USD 100,000,000, extendable at the issuer's discretion. A cap on the programme's size — not a measure of tokens actually outstanding.

Appointed market maker

None. The Final Terms name no market maker for NVDAx, so the issuer makes no commitment about secondary-market liquidity in this product.

Underlying tradability by session

Not established.

Country and investor eligibility

Excluded outright: US persons and any US address, jurisdictions where distribution would be unlawful (the prospectus names North Korea, Syria and Iran), and FATF call-for-action jurisdictions. Permitted distribution rests on the FMA Liechtenstein approval notified into 29 named EEA states. Investor category is narrowed too: under Jersey's SPB Order the Products may be issued only to a Professional Investor or to someone who has acknowledged the SPB Order investment warning, and subscription or redemption with the issuer requires passing KYC/AML.

Transfer controls on the token

Freely transferable peer to peer, with one carve-out: the smart contract may block addresses flagged as sanctioned, screened by a third-party oracle. The tokenizer — not the holder — controls the mint, burn, pause and contract-update functions.

Minimum subscription with the issuer

USD 5,000 minimum for a primary-market subscription with the issuer; the maximum is the total issue volume. The documents set no minimum for acquiring the token on a secondary market.

Venue fees

Primary market: Investor Fees of up to 0.5% of the underlying's market price on issuance and again on redemption, with a USD 100 minimum each way. Ongoing: a Management Fee of up to 0.25% per year, accrued daily at 12:00 UTC; the issuer's product page states none is charged at present. Whatever a secondary-market venue charges is outside these documents.

Token-holder legal rights

A creditor claim against the issuer, secured on collateral allocated to that specific product — not share ownership. No vote, no dividend as a shareholder, no pre-emption, no claim on the underlying shares themselves, and no residual claim on the issuer once the pro-rata realisation proceeds have been paid.

Redemption for underlying shares

A holder-initiated redemption right does exist — the Investor Put Option, exercisable at any time by submitting a Redemption Order to the issuer — but it settles in cash or cryptocurrency, never in shares: physical delivery of the underlying is excluded. Settlement runs to T+5 after the issuer receives the tokens, minus Investor Fees, and only after the holder passes KYC/AML; the issuer may reject a redemption on negative findings.

Bankruptcy treatment

Segregated, product-specific collateral with an independent Security Agent holding a lien for investors. Issuer insolvency is a Realization Event: the Security Agent realises that product's collateral and distributes Net Realization Proceeds pro rata to its holders. But holders rank behind the Security Agent, the Custodian and the Paying Account Provider, whose fee and cost claims come out first, and there is no residual claim on the issuer afterwards.

Lending of the collateral

Allowed. The Final Terms permit the NVIDIA shares held as collateral for NVDAx to be lent out. Under the Base Prospectus definition of Lent Underlyings, lent shares leave the collateral accounts and are replaced by an equivalent amount of cash.