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What is ProShares Ultra VIX Short-Term Futures ETF Tokenized (bStocks) (UVXYB)?

Quick Facts

  • Token symbol: UVXYB
  • Blockchain: BNB Smart Chain (BEP-20)
  • Issuer: BTech Holdings Limited, a Binance group affiliate
  • Backing: 1:1 by the underlying ETF held with a regulated custodian
  • Regulatory approval: ADGM Financial Services Regulatory Authority prospectus
  • Trading: 24/7 on Binance Spot and via DeFi protocols
  • Availability: Not offered to U.S. persons or in U.S. jurisdictions

Introduction

UVXYB is a tokenized real-world asset (RWA) that gives holders on-chain economic exposure to the ProShares Ultra VIX Short-Term Futures ETF (UVXY) — a well-known leveraged volatility product traded on traditional stock exchanges.

It is part of Binance's bStocks program, which brings tokenized U.S. stocks and ETFs to the BNB Chain. UVXYB stands out as the first leveraged ETF product in that lineup, making it a unique bridge between traditional volatility trading and decentralized finance.

History & Background

Binance launched bStocks on BNB Chain in mid-2026, following regulatory approval of the issuer's prospectus by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. UVXYB was introduced in October 2026 alongside three other tokenized securities, as Binance expanded its tokenized asset catalog toward $1 billion in total value.

The underlying ETF, ProShares UVXY, has been trading on traditional markets since 2011, managed by ProShare Advisors LLC.

How ProShares Ultra VIX Short-Term Futures ETF Tokenized (bStocks) Works

UVXYB is a certificate token issued on BNB Smart Chain. Each token is backed 1:1 by a corresponding share of the underlying UVXY ETF, held by a regulated custodian.

Pricing is updated via oracle feeds to mirror the real-time price of UVXY on traditional markets. Users can also convert actual UVXY ETF holdings into UVXYB tokens at a 1:1 ratio with zero conversion fees through Binance.

The underlying UVXY ETF itself seeks daily investment results that correspond to 1.5x the performance of the S&P 500 VIX Short-Term Futures Index. It is designed as a short-term trading tool, not a long-term investment vehicle.

Tokenomics

UVXYB tokens are minted only when backed by a corresponding real-world ETF share held in custody, keeping supply directly tied to real-world demand. The token's value tracks the underlying UVXY ETF price, not an independent crypto market dynamic.

There are no inflationary emissions or staking rewards. The economic model is entirely driven by the performance of the underlying leveraged volatility ETF.

Circulating Supply ? 28,017 UVXYB
Total supply ? 28,017 UVXYB
Max supply ? -- UVXYB
Updated 22h ago

Ecosystem & Use Cases

  • Spot trading on Binance 24/7 against USDT, bypassing traditional market hours
  • DeFi integration on BNB Chain via compatible wallets and protocols
  • Margin collateral for Cross Margin and Portfolio Margin accounts on Binance
  • Self-custody via any BNB Chain-compatible wallet

Team, Governance & Community

UVXYB is issued by BTech Holdings Limited, a Binance group affiliate regulated under the ADGM framework. Governance around issuance and custody follows the issuer's regulated prospectus. Community engagement happens primarily through the Binance platform and broader BNB Chain ecosystem.

Advantages

  • 24/7 access to a volatility ETF that normally only trades during U.S. market hours
  • On-chain self-custody means users can hold tokens in their own wallets
  • Regulated backing under an ADGM-approved prospectus adds credibility
  • DeFi composability allows UVXYB to integrate with BNB Chain protocols
  • Zero conversion fees when converting underlying ETF shares to tokens

Risks & Challenges

  • Leverage decay risk: UVXY is a 1.5x leveraged product that structurally loses value over time in most market conditions due to daily rebalancing
  • Regulatory restrictions: Not available to U.S. persons, limiting the addressable market
  • Custodial risk: Reliance on a regulated custodian introduces a centralized point of trust
  • Volatility concentration: The underlying ETF tracks VIX futures, making UVXYB highly sensitive to sudden market swings
  • Limited liquidity: As a niche tokenized ETF, on-chain liquidity may be thinner than mainstream crypto assets

Long-Term Vision

UVXYB represents an early step in the broader mission of tokenizing traditional financial instruments and making them accessible around the clock on public blockchains. As the RWA sector grows and regulated tokenized products gain mainstream adoption, products like UVXYB could serve as a template for bringing complex, derivative-linked financial tools into the DeFi ecosystem in a compliant and transparent way.

Frequently Asked Questions

UVXYB is a BEP-20 token on BNB Smart Chain that provides 1:1 backed economic exposure to the ProShares Ultra VIX Short-Term Futures ETF (UVXY). It is part of Binance's bStocks program for tokenized real-world assets.

UVXYB is issued by BTech Holdings Limited, a Binance group affiliate. The issuance operates under a prospectus approved by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority.

ProShares UVXY seeks daily investment results equal to 1.5x the performance of the S&P 500 VIX Short-Term Futures Index. It is a leveraged volatility product designed for short-term trading, not long-term holding.

UVXYB is priced via oracle feeds that track the real-time market price of the underlying UVXY ETF. Each token is backed 1:1 by a corresponding ETF share held in regulated custody.

Yes. Because UVXYB is a BEP-20 token on BNB Smart Chain, it is compatible with DeFi protocols on that network. It can also be used as collateral in Binance's Cross Margin and Portfolio Margin accounts.

UVXYB is available to eligible users in permitted jurisdictions. It is explicitly not available to U.S. persons or in U.S. jurisdictions, and has not been registered under the U.S. Securities Act of 1933.

Yes. Users can convert UVXYB tokens back to the underlying UVXY ETF shares through the Binance platform at a 1:1 ratio. Conversion is subject to applicable laws and user eligibility.

The underlying UVXY ETF is a 1.5x leveraged product that tracks VIX futures, making it structurally prone to value decay over time due to daily rebalancing. Combined with the inherent volatility of VIX-related instruments, UVXYB carries significant risk.