Kraken launches xStocks Vaults for tokenized equity yield

7.2 Investments

Sep 14, 2026

Kraken launches xStocks Vaults, offering up to 2% APY on tokenized equities like SPYx, QQQx, and NVDAx via DeFi strategies, with auto-compounded rewards and a 3-day withdrawal period.

Kraken has introduced xStocks Vaults, a new product allowing users to earn yield on tokenized versions of major equities, including SPYx (S&P 500 ETF), QQQx (Nasdaq-100 ETF), and NVDAx (Nvidia shares). Clients can deposit their xStocks, which serve as collateral to borrow stablecoins and participate in DeFi yield strategies, primarily on the Solana blockchain via the Kamino protocol. The initial net APY is up to 2% for SPYx and QQQx, and 1.8% for NVDAx, with some reports of higher variable yields for NVDAx. Rewards are automatically compounded into the same xStock, and users maintain full price exposure to the underlying assets. Withdrawals require a three-day waiting period, and a 25% performance fee is charged on earnings. xStocks Vaults aim to boost capital efficiency and streamline access to DeFi strategies through Kraken’s interface. However, users should be aware of associated risks, including smart-contract, liquidity, and market risks. The vaults are developed by Veda Labs, with risk curation provided by SentoraHQ.