Chevron xStock 

CVXX Price

What is the Chevron xStock (CVXX) tokenized stock?

Chevron xStock (CVXX) is a tokenized tracker certificate that gives crypto traders on-chain price exposure to Chevron Corporation (NYSE: CVX) without a brokerage account. Backed Assets (JE) Limited issues the certificate — product ISIN CH1436219369 — under the xStocks product line, with Backed Finance AG as tokenizer. CVXX exists as a Solana SPL token and an ERC-20 contract deployed on Ethereum, BNB Smart Chain, and Arbitrum One. Holders receive price exposure only — not Chevron shares and not shareholder rights.

Is CVXX backed by real Chevron shares?

Yes. Each CVXX token is collateralized 1:1 by Chevron shares held with third-party custodians — Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Limited — with Security Agent Services AG acting as security agent. Supply moves through mint and burn: new tokens are issued against custody-backed demand, and redeemed tokens are burned. The custody chain is single-issuer and single-custody, so issuer and custodian risk — not crypto emission risk — is the structural exposure for CVXX holders.

How does CVXX track Chevron stock?

CVXX tracks the price of Chevron (CVX) shares through 1:1 share collateral, per the issuer's product terms. The certificate confers no ownership, voting, or information rights in Chevron Corporation. Trading hours diverge: CVXX trades 24/7 on-chain, while the underlying NYSE session runs market hours only. That gap creates off-hours peg risk — CVXX can deviate from the underlying share price when US equity markets are closed.

Does CVXX pay dividends?

Dividend pass-through to CVXX holders is not documented. The issuer states that CVXX tracks the price of Chevron stock, and holders carry no ownership rights that would create dividend entitlement. Kraken lists the underlying Chevron forward dividend yield at 3.37%, but public product pages describe no payout mechanism for token holders. CVXX holders should not assume dividend income from the certificate.

What is CVXX's total supply?

Per DropsTab data, CVXX has no fixed maximum supply — token inventory is an elastic mint-and-redeem function rather than a scheduled crypto emission. New tokens are minted as demand for the certificate rises, and redeemed tokens are burned. CVXX has no vesting schedule, cliff, or insider allocation, so the certificate carries no unlock-driven sell pressure. Supply risk concentrates in issuer and custodian operations instead. See DropsTab for the live supply figure.

How do I buy CVXX?

Kraken lists CVXx for spot purchase with USD, crypto, or stablecoins, with fractional buying from $1 and 24/5 trading availability. Tokens are withdrawable to self-custody wallets — that withdrawal path is how supply reaches on-chain liquidity. On-chain, CVXx trades against USDC on Raydium (CLMM) on Solana, with Jupiter aggregating Solana routing for swaps. Venue-level eligibility restrictions apply, so availability depends on the buyer's jurisdiction.

What are the liquidity risks for CVXX?

On-chain liquidity for CVXX rests on a single concentrated Raydium CVXx/USDC pool, so DEX depth is thin relative to the underlying Chevron equity market. Per DropsTab data, the market feed records DEX-only venues for CVXx, with no CEX entries — Kraken's spot listing sits outside that tracked feed. Off-hours peg risk compounds thin liquidity: CVXX prices continuously while Chevron shares trade only during NYSE sessions.

Are there fees for issuing or redeeming CVXX?

Backed currently charges no management fee on CVXX, and the issuer may introduce one of up to 0.25% per year. Issuance and redemption fees run up to 0.50%. Redeeming CVXX into underlying Chevron equity runs through Backed and carries an additional fee on top.

Who can buy CVXX?

Distribution of CVXX is restricted by design. The certificate is not available to US persons and is not registered under the US Securities Act of 1933. UK retail clients are excluded, and Singapore is excluded at the venue level for Kraken xStocks. Elsewhere, CVXX is offered only through licensed entities to qualified investors. Regulatory eligibility is a structural condition of the instrument, not a temporary limitation.

How is CVXX different from CVXON or dCVX?

CVXX is the Backed Finance xStock wrapper on Chevron. CVXON is Ondo's tokenized Chevron product, dCVX is Dinari's, and Reality Protocol issues its own rToken version — four separate instruments with different issuers and custody arrangements. A CVXx/USDC market refers to the Backed xStock, not the Ondo or Dinari wrappers. Verify the ticker suffix before attributing any market, contract, or custody claim to an issuer.