Binance bStocks’ SPYb token accumulates $6M in DeFi liquidity

Binance’s tokenized stock platform bStocks has produced a quiet breakout hit. SPYb, a BEP-20 token that gives holders 1:1 economic exposure to the SPDR S&P 500 ETF, has pulled in roughly $6.3 million in deposits across DeFi platforms. The token, which lives on BNB Smart Chain and is fully backed by custodied SPY shares, launched alongside the broader bStocks platform in June 2026. In the two months since, SPYb has become one of the most actively traded tokens in the bStocks lineup, with DEX liquidity reaching approximately $6.5 million and an estimated market cap somewhere between $17 million and $22 million. From zero to $624 million in two months The platform crossed $100 million in assets under management just 15 days after launch. By early August 2026, that figure had ballooned to roughly $624 million. bStocks offers a range of tokenized US equities and ETFs, but SPYb has emerged as the flagship. Holders can withdraw their tokens to self-custody wallets and plug them into automated market makers, lending protocols, and other DeFi applications. The shares backing the tokens are held in custody by BTech Holdings Limited, which issues the bStocks instruments. Why DeFi liquidit...