Binance will support SPY cash dividend distributions through its bStocks tokenized equities product.
RWA & Tokenization ·
Binance announced that its bStocks tokenized equities product will support cash dividend distributions for the SPDR S&P 500 ETF (SPY). The exchange will distribute SPY dividends to holders of SPYB tokens, the bStocks representation of SPY positions on-chain.
The dividend distributions will include net amounts after applicable taxes and fees are deducted and reinvested. This extends bStocks functionality beyond price tracking to include yield-bearing characteristics of traditional equity instruments, aligning tokenized stock mechanics more closely with conventional ETF ownership.
The announcement does not specify the timing of the first distribution, the exact fee structure, or how tax treatment may vary across jurisdictions where bStocks users are located.