What it is
Gold has been a store of value for a very long time. Sproot buys it as GLDx, a token that follows the price of SPDR Gold Shares, a fund that holds physical gold.
About 4 to 7% a year, on past averages.
Who can buy it
Not available if you live in the United States, the United Kingdom, Australia or Canada. Sproot asks once, when you start, and only shows you what you can buy.
How Sproot buys it
You choose a monthly amount, from $50, and how much of it goes to each basket. On the same day every month Sproot buys it for you, and it goes straight into your own wallet. Pause or stop whenever you like.
What you actually hold
GLDx is an xStock: a token issued by Backed Assets (JE) Limited that follows the price of SPDR Gold Shares (GLD). Each token is backed one to one by the real fund share, held in custody.
The risks
- The price goes up and down. You can end up with less than you put in.
- You rely on the issuer and its custodian holding the real fund shares. The token is built so the issuer can pause transfers and move tokens.
- The token trades around the clock, but the fund it follows trades on US market hours, so outside them the price can drift from the last market close.
Check it yourself
- Token
- GLDx
- Mint
- Xsv9hRk1z5ystj9MhnA7Lq4vjSsLwzL2nxrwmwtD3re
- Issuer
- Backed Assets (JE) Limited