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Crypto investors increasingly want exposure to traditional stocks without leaving their crypto ecosystem. xStocks Dual Asset is Bybit's non-principal-protected structured yield product that lets you turn your market view on tokenized stocks into yield opportunities. With this launch, Bybit becomes the first centralized exchange to introduce tokenized stocks as the underlying assets for a Dual Asset structured yield product. This article covers how it works, which xStocks are supported and who can use it.
Key Takeaways:
xStocks Dual Asset is a non-principal-protected structured yield product that uses selected tokenized stocks as underlying assets.
Users choose an xStock pair, target price and investment period to pursue yield based on their market view.
At expiry, settlement depends on the selected strategy, target price and final settlement price, so users may receive either USDT or the selected xStock.
xStocks Dual Asset extends Bybit's existing Dual Asset product by introducing tokenized stocks as a new underlying asset class. The core mechanism stays the same. You subscribe with one asset, set a target price and earn yield over a fixed period. At settlement, the outcome depends on the relationship between the settlement price and your target price.You can use xStocks Dual Asset to earn yield while waiting for a preferred buy price, earn yield while waiting for a preferred sell price or build exposure to selected tokenized stocks. The trade-off is that settlement may occur in a different asset than you originally subscribed with. This product is non-principal-protected, meaning your total return isn't guaranteed.xStocks are tokenized stock products available on Bybit that are designed to provide blockchain-based exposure to selected publicly listed companies. Learn more in our xStocks explainer.
Because xStocks Dual Asset is non-principal-protected, the asset you receive at settlement may be worth less than your original investment. The product offers two strategies: Buy Low and Sell High. Each has different subscription requirements and settlement outcomes.
You subscribe with USDT and set a target price below the current xStock price.
If Settlement Price ≤ Target Price: the selected xStock is purchased at the target price using your subscription amount and interest income.
If Settlement Price > Target Price: the xStock isn't purchased. You receive your subscription amount and interest income in USDT.
Example (Buy Low with NVDAX):Suppose NVDAX is trading at 150 USDT. You subscribe 1,000 USDT with a target price of 140 USDT and earn 5 USDT in interest.
If NVDAX settles at 138 USDT (≤ 140): your 1,005 USDT buys NVDAX at the target price of 140 USDT. You receive approximately 7.18 NVDAX.
If NVDAX settles at 155 USDT (> 140): you keep 1,005 USDT.
This example is for illustration only and does not represent actual returns.
You subscribe with the selected xStock and set a target price above the current price.
If Settlement Price ≥ Target Price: your xStock and interest income are sold at the target price. You receive USDT.
If Settlement Price < Target Price: the xStock isn't sold. You receive your subscription amount and interest income in the selected xStock.
Example (Sell High with NVDAX):Suppose NVDAX is trading at 150 USDT. You subscribe 10 NVDAX with a target price of 160 USDT and earn 0.05 NVDAX in interest.
If NVDAX settles at 165 USDT (≥ 160): your 10.05 NVDAX is sold at 160 USDT. You receive 1,608 USDT.
If NVDAX settles at 145 USDT (< 160): you keep 10.05 NVDAX.
This example is for illustration only and does not represent actual returns.*Important: APR refers to the yield component only. Total return depends on the settlement asset and its market value at expiry.
Six xStocks are currently supported for xStocks Dual Asset:
xStock | Product pair |
|---|---|
SPCXX | SPCXXUSDT |
NVDAX | NVDAXUSDT |
AAPLX | AAPLXUSDT |
GOOGLX | GOOGLXUSDT |
COINX | COINXUSDT |
AMZNX | AMZNXUSDT |
You can choose from three investment periods: 8 hours, 1 day and 7 days. Longer periods may offer different APRs but also expose your position to more market movement before settlement. Available subscription limits may vary by product and investment period.Available investment periods, subscription limits and other product terms may vary based on market conditions and demand. Refer to the xStocks Dual Asset product page for the latest information before subscribing.
You need Standard or Business KYC verification to access xStocks Dual Asset. The product follows the same regional restrictions as xStocks. Check the latest eligibility rules on Bybit before subscribing.
Before using this product, consider these risks:
Non-principal-protected: you may receive an asset worth less than your initial investment
Market risk: xStock prices can move significantly during the investment period
Settlement risk: the received asset may not be the one you prefer
No early redemption: funds are locked during the investment period, so you can't withdraw or reallocate even if market conditions change
Tokenized stock risk: risks related to the tokenized asset structure, liquidity, issuer arrangements and market tracking apply
Whether you're looking to buy tokenized stocks at your preferred price or earn yield while waiting to sell, xStocks Dual Asset offers a flexible way to put your market view into action. Before subscribing, make sure you understand how Buy Low and Sell High settle, as your final return and settlement asset depend on market conditions. Check out the latest xStocks Dual Asset products on Bybit Earn to view current rates, terms and supported assets.
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