Overview
- Kraken made the xStocks Vaults available to eligible non‑U.S. customers on Monday, September 14, letting users deposit tokenized SPY, QQQ and NVIDIA (SPYx, QQQx, NVDAx) to earn variable on‑chain rewards that are converted back into the same token.
- Deposits are sent to an embedded self‑custody Ink wallet, wrapped into a Veda vault, moved across chains by Sentora and deployed as collateral in Kamino’s Solana lending markets to borrow stablecoins that fund yield strategies.
- Kraken displays initial net APY estimates of 2% for SPYx and QQQx and 1.8% for NVDAx after a 25% performance fee, and one outlet’s higher 8% NVDAx claim contradicts Kraken’s official figures.
- Withdrawals can be requested at any time but take three days to reach a user’s Kraken balance, and Kraken warns that liquidation, smart‑contract failure, stablecoin depegging, bad debt and cross‑chain execution problems could reduce or wipe vault balances.
- xStocks do not carry shareholder voting or dividend rights, the vaults exclude customers in the U.S., U.K., Canada, Australia, the UAE and sanctioned jurisdictions, and the launch builds on xStocks’ 2025 token listings and 2026 trading expansions.