JPMorgan Chase xStock 

JPMX Price

What is the JPMorgan Chase xStock (JPMX) tokenized stock?

JPMorgan Chase xStock (JPMX) is a tracker certificate that gives crypto traders on-chain price exposure to JPMorgan Chase & Co. (NYSE: JPM) — a tokenized US bank stock tradable without a brokerage account. Backed Assets (JE) Limited issues the certificate under the xStocks product line, with Backed Finance AG as tokenizer. Each JPMX token is backed 1:1 by a real JPM share held with a third-party custodian. DropsTab classifies the asset under Tokenized Stock.

Is JPMorgan Chase xStock issued by JPMorgan?

No. JPMorgan Chase xStock is issued by Backed Assets (JE) Limited (issuer ISIN CH1436219302) under the xStocks product line. JPMorgan Chase & Co. is only the tracked underlying company. JPMX is also distinct from JPMorgan's own tokenization products — JPM Coin/Kinexys and the JPMAM tokenized money-market fund on Ethereum — and from the sibling wrapper JPMorgan Chase Ondo Tokenized Stock (JPMON), which uses a different issuer and custody.

What backs the JPMX token's value?

Every JPMX token is backed 1:1 by a real JPMorgan Chase & Co. share. A regulated third-party custodian holds the underlying shares, so the tracked JPMX supply mirrors an equal number of custodied JPM shares. Price exposure runs around the clock: on-chain trading is continuous, while Kraken venue trading operates 24/5 with weekend availability in development.

Is JPMx the same as owning JPM stock?

No. JPMx packages price exposure to JPMorgan Chase & Co. into a tradable token. The token holder does not hold the underlying share, and shareholder rights such as voting do not transfer. Economic exposure still follows the JPM price 1:1 through full collateralization — actual share ownership sits with the custodian until redemption, which is available only to qualified investors.

What is JPMX's total token supply and is there a maximum?

JPMX has no fixed maximum supply. The supply is an elastic mint/redeem inventory: Backed mints new tokens when investors issue the certificate and burns tokens on redemption, so the token count expands and contracts with verified demand against custodied shares. The live figure changes continuously — see DropsTab for the current supply, last refreshed 8 September 2026.

Does JPMX have vesting unlocks or insider sell pressure?

No. JPMX has no vesting schedule, no cliff dates, and no team or investor token allocations — the asset is a fully collateralized tracker certificate, not a protocol token. Minting happens only against custodied JPM shares at a 1:1 ratio, so new issuance does not dilute the backing. Classic token-unlock sell pressure therefore does not apply to JPMX.

Which blockchains support the JPMX token?

Per DropsTab data, JPMX exists as a Solana SPL token (XsMAqkcKsUewDrzVkait4e5u4y8REgtyS7jWgCpLV2C) and as an ERC-20 token (0xd9fc3e075d45254a1d834fea18af8041207dea0a) on Ethereum, BSC and Arbitrum One. The Solana version follows the xStocks x-suffix convention. Multi-chain issuance lets holders move JPM equity exposure between Solana and three EVM networks.

Can I redeem JPMX for actual JPMorgan shares?

Only qualified investors can. Direct redemption runs through the issuer: KYC-cleared qualified investors redeem JPMX tokens with Backed for the underlying JPM shares, paying a fee of up to 0.50% on entry or exit. Regular retail holders exit by selling tokens on an exchange instead — redemption is not a retail path.

Who is eligible to buy JPMx?

Eligibility is restricted. JPMX is not offered to US persons, and the UK is generally excluded. Purchases are limited to qualified investors or professional clients under Swiss FinSA and EU Prospectus Regulation standards. Eligible retail clients in supported countries can buy through Kraken's xStocks marketplace; US residents cannot.