Largest US bank by assets.
Ranked by estimated one-way entry cost. Compare the chain, market price, effective fill, fees, size capacity and wrapper risk before choosing a venue.
| # | Route / product | Chain | Market price | Effective fill | Exposure units | Spread + fees | Impact | Total entry | Size fit | Risk | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JPM.rh LOWEST ENTRY Robinhood EU Broker derivative | Robinhood Chain 24/5 | $312.80 at reference | $313.09 | 31.97 | $9.00 | $0.30 | $9.30 9.3 bps | Deep <50 bps to $1.7M | High | Trade ↗ |
| 2 | JPMon Ondo GM primary Backed token | Ethereum / Solana 24/5 (halts on weekends for some names) | $312.80 at reference | $313.20 | 31.97 | $12.80 | $0.00 | $12.80 12.8 bps | Deep NAV route · no modelled impact | Moderate | Trade ↗ |
| 3 | JPMx Jupiter (Solana) Backed token | Solana 24/7 | $312.80 at reference | $321.16 | 31.97 | $29.02 | $238.10 | $267.12 267.1 bps | Limited <50 bps to $2.1K | Moderate | Trade ↗ |
Target exposure excludes entry cost; “total entry” is added to the notional. Backed-token and broker-route quotes retain transparent execution assumptions where a venue does not publish depth. Prices, liquidity, volume, OI and funding refresh through the StonkSaver API. Bridging is excluded.
Round trip: enter, hold for 1 month, exit. Excludes bridging costs and bridging routes — v1 assumes you already hold stablecoins on the settlement chain.
| Instrument | Type | Spread | Fee | Impact | Gas | Entry | Funding 1 month | Round trip | as bps |
|---|---|---|---|---|---|---|---|---|---|
JPM.rh Robinhood Chain | Broker derivative | $9.00 | $0.00 | $0.30 | $0.00 | $9.30 | — | $18.60 | 18.6 bps |
JPMon Ondo Global Markets | Backed token | $1.00 | $10.00 | $0.00 | $1.80 | $12.80 | — | $25.60 | 25.6 bps |
JPMx xStocks | Backed token | $4.00 | $25.00 | $238.10 | $0.02 | $267.12 | — | $534.23 | 534.2 bps |
Sorted by round-trip cost. Cheapest is not "best" — a perp costs less to enter and more to hold, and it gives you none of the ownership rights below.
The same price exposure, very different legal and custodial reality.
| Question | JPMx xStocks | JPMon Ondo Global Markets | JPM.rh Robinhood Chain |
|---|---|---|---|
| What is it? | Backed token | Backed token | Broker derivative |
| Do I receive dividends? | Yes — reinvested | Yes — paid out | Yes — paid out |
| Can I withdraw it to my wallet? | Yes | Yes | No |
| Are transfers restricted? | No | Yes — allowlist | Yes — allowlist |
| Can the issuer freeze it? | Yes | Yes | Yes |
| Who holds the underlying? | Regulated third-party custodian (segregated, per-issuance) | US broker-dealer / qualified custodian | Robinhood Europe (US-affiliate held shares) |
| Can I redeem it? | Yes — KYC required | Yes — KYC required | No |
| Am I paying funding? | No | No | No |
| Can I borrow against it? | Not yet | Not yet | Not yet |
| When can I trade it? | 24/7 | 24/5 (halts on weekends for some names) | 24/5 |
| Where does it settle? | Solana | Ethereum / Solana | Robinhood Chain |
Fully-collateralised tracker certificates. Each token is backed 1:1 by the underlying share held with a regulated custodian, and the token itself is a freely transferable SPL/ERC-20.
Tokenized US equities and ETFs issued against 1:1 held shares, with programmatic mint and redeem for verified users during and outside US market hours.
Broker-issued stock tokens for EU customers. Economically a derivative contract against Robinhood Europe rather than a claim on a segregated share, settled on a Robinhood-operated chain.