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What is GraniteShares 2x Long SK Hynix Daily ETF Tokenized bStocks (SKUUB)?

Quick Facts

  • Token symbol: SKUUB
  • Blockchain: BNB Smart Chain (BEP-20)
  • Issuer: BTech Holdings Limited, a Binance group affiliate
  • Backing: 1:1 backed by the underlying ETF via regulated custodian
  • Underlying asset: GraniteShares 2x Long SK Hynix Daily ETF (SKUU)
  • Trading: 24/7 on Binance Spot and BNB Chain-compatible wallets
  • Leverage factor of underlying: 2x daily performance of SK Hynix stock

Introduction

SKUUB is a tokenized bStock — a blockchain-native certificate that tracks the value of the GraniteShares 2x Long SK Hynix Daily ETF (ticker: SKUU). It brings a leveraged, single-stock ETF onto BNB Smart Chain, making it accessible as a standard BEP-20 token around the clock.

The underlying ETF, SKUU, seeks to deliver 2x (200%) the daily percentage change of SK Hynix Inc stock. By tokenizing it, SKUUB inherits that leveraged exposure while adding the flexibility and composability of on-chain assets.

History & Background

The bStocks platform was launched by Binance in June 2026, bringing tokenized U.S. equities to BNB Smart Chain for the first time. The GraniteShares SKUU ETF itself launched in July 2026, coinciding with SK Hynix's debut on U.S. markets via an ADR listing on Nasdaq under the ticker SKHY.

SKUUB was subsequently listed on Binance Spot in October 2026, alongside its inverse counterpart SKDDB, expanding the bStocks catalogue to include leveraged ETF products.

How GraniteShares 2x Long SK Hynix Daily ETF Tokenized bStocks Works

The underlying SKUU ETF gains its 2x exposure through total-return swaps referencing SK Hynix stock, collateralised by cash and short-term Treasuries. It resets its leverage daily, meaning the 2x objective applies only to a single trading day.

On the tokenization side, BTech Holdings Limited's SPV (Special Purpose Vehicle) purchases and custodies the underlying ETF shares with a regulated broker-custodian. Smart contracts on BNB Smart Chain then mint one SKUUB token for every share held in custody — a strict 1:1 ratio.

A daily Proof of Collateral is published publicly, allowing anyone to verify that issued tokens remain fully backed.

Tokenomics

SKUUB tokens are minted only when new underlying ETF shares are deposited into custody, and burned when users redeem them. This elastic supply model ensures the token supply always reflects actual collateral held.

Conversion between SKUUB and the underlying ETF position on Binance carries zero conversion fees. Corporate actions such as splits are handled automatically through a built-in rebase mechanism, avoiding manual adjustments.

Circulating Supply ? 24,721 SKUUB
Total supply ? 24,721 SKUUB
Max supply ? -- SKUUB
Updated 8h ago

Ecosystem & Use Cases

SKUUB can be used in several ways within the BNB Chain ecosystem:

  • 24/7 spot trading on Binance against USDT
  • Margin collateral in Binance Cross Margin and Portfolio Margin modes
  • Self-custody via Trust Wallet, Binance Wallet, or any BSC-compatible wallet
  • DeFi integrations across protocols such as Venus, Lista DAO, and PancakeSwap

Team, Governance & Community

SKUUB is issued by BTech Holdings Limited, a Binance group affiliate incorporated in the Abu Dhabi Global Market (ADGM). The bStocks programme operates under regulatory approval from ADGM's Financial Services Regulatory Authority (FSRA), and Binance acts as the recognised investment exchange with institutional-grade market surveillance.

Governance of the tokenization infrastructure sits with BTech and Binance, not a decentralised community.

Advantages

  • 24/7 accessibility: Trade leveraged ETF exposure at any hour, unlike traditional market hours
  • 1:1 backing: Every token is fully collateralised by a real ETF share held in regulated custody
  • On-chain transparency: Daily Proof of Collateral is publicly verifiable
  • DeFi composability: SKUUB can be deployed across BNB Chain DeFi protocols
  • Zero conversion fees: Switch between SKUUB and the underlying ETF position at no cost
  • Self-custody: Withdraw tokens to any BNB Smart Chain-compatible wallet

Risks & Challenges

  • Daily leverage reset: The underlying SKUU ETF resets daily; holding SKUUB for longer than one day can produce significantly different returns than 2x the underlying
  • High volatility: Rated 5/5 risk by GraniteShares — intended only for sophisticated, short-term traders
  • Price divergence: SKUUB prices can trade above or below the underlying ETF, especially outside regular market hours
  • Counterparty and custody risk: Token backing depends on BTech's SPV, its custodian arrangements, and ongoing regulatory compliance
  • Transfer restrictions: Smart-contract controls and eligibility requirements may limit who can hold or redeem SKUUB

Long-Term Vision

SKUUB sits at the intersection of two fast-growing trends: real-world asset tokenization and on-chain leveraged products. The bStocks platform aims to expand its catalogue of tokenized U.S. equities and ETFs, while deepening DeFi integrations on BNB Chain.

By bridging regulated financial products with permissionless blockchain infrastructure, bStocks and tokens like SKUUB represent an early blueprint for how traditional financial instruments could eventually trade natively on-chain — 24 hours a day, seven days a week, anywhere in the world.

Frequently Asked Questions

SKUUB is a tokenized bStock on BNB Smart Chain that represents the GraniteShares 2x Long SK Hynix Daily ETF (SKUU). It gives holders on-chain economic exposure to 2x the daily performance of SK Hynix stock.

No. SKUUB is backed 1:1 by shares of the SKUU ETF, which itself gains exposure to SK Hynix through total-return swaps rather than holding the shares directly.

SKUUB is issued by BTech Holdings Limited, a Binance group affiliate based in the Abu Dhabi Global Market (ADGM), under regulatory approval from the FSRA.

You can hold it, but the underlying ETF's 2x leverage resets daily. Holding for multiple days can lead to returns that differ significantly from 2x the cumulative SK Hynix move, due to compounding effects.

Binance publishes a daily Proof of Collateral on-chain, which allows anyone to confirm that the number of issued SKUUB tokens matches the ETF shares held in custody.

SKUUB trades 24/7 on Binance Spot as a SKUUB/USDT pair. It can also be withdrawn to any BNB Smart Chain-compatible wallet for self-custody and use in DeFi protocols.

Conversion between SKUUB and the corresponding ETF position on Binance is available at a 1:1 ratio with zero conversion fees, subject to eligibility requirements.

SKUUB, like its underlying ETF, is intended for sophisticated investors with a short-term, active trading approach. It carries a maximum risk rating and is not suited for passive, long-term buy-and-hold strategies.