What it is
Tesla makes electric cars, batteries and energy storage. Sproot buys it as TSLAx, a token that follows the price of one Tesla share.
One company moves far more than the whole index, up and down.
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. In the Stocks basket you pick the S&P 500, Tesla, Nvidia, Apple or any mix of them. The basket splits evenly across your picks, at least $10 a month each. 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
TSLAx is an xStock: a token issued by Backed Assets (JE) Limited that follows the price of Tesla, Inc. shares (TSLA). Each token is backed one to one by the real share, held in custody.
Dividends are not paid out in cash. They are reinvested: after withholding tax, the issuer raises a multiplier, and the amount your wallet shows grows with it. You get the price, not a shareholder's vote.
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 shares. The token is built so the issuer can pause transfers and move tokens.
- The token trades around the clock, but the share it follows trades on US market hours, so outside them the price can drift from the last market close.
Check it yourself
- Token
- TSLAx
- Mint
- XsDoVfqeBukxuZHWhdvWHBhgEHjGNst4MLodqsJHzoB
- Issuer
- Backed Assets (JE) Limited