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      Binance Distributes $1.88 Dividends to SPYB Token Holders

      Binance has announced the distribution of dividends for holders of its tokenized version of the SPDR S&P 500 ETF Trust, known as SPYB. Each eligible holder will receive a dividend payout of $1.88 per share, which will be deposited directly into their spot wallets as additional SPYB tokens. This approach effectively reinvests the dividends back into the same asset, rather than distributing cash or stablecoins.

      The record date for eligibility was set for September 18, 2026, at 00:00 UTC. Holders of SPYB in their Binance spot wallets at that time qualified for the payout. To facilitate the distribution, Binance temporarily suspended certain account functionalities on September 17, 2026, while trading on the SPYB/USDT pair continued without interruption.

      SPYB operates on the BNB Smart Chain as a BEP-20 token, providing 1:1 economic exposure to actual SPY ETF shares, which are held in segregated custody by BTECH Holdings Limited. This Binance affiliate is licensed by the Financial Services Regulatory Authority of the Abu Dhabi Global Market, which has established a regulatory framework for digital asset firms. This marks a significant shift from Binance's previous attempts to offer tokenized stocks, which were halted in 2021 due to regulatory pressures.

      The auto-reinvestment model for dividends aligns with traditional brokerage practices, allowing long-term holders to benefit from compounding exposure without needing to make active investment decisions. However, regulatory scrutiny remains a concern, particularly from US securities regulators, who may view SPYB as an unregistered security offering.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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