What are Kraken’s xStocks Vaults?

Kraken’s xStocks Vaults are yield products supporting SPYx, QQQx and NVDAx, with estimated net annual yields of up to 2%.

How is yield generated through Kraken’s xStocks Vaults?

Kraken’s xStocks Vaults use deposited tokenised assets as collateral to borrow stablecoins through DeFi lending markets and generate returns.

What does the Kraken xStocks Vault fee mean?

Kraken’s xStocks Vaults charge a 25% performance fee, while the displayed estimated yields already account for that fee.

Why do Kraken xStocks Vaults carry risks?

Kraken’s xStocks Vaults carry risks from liquidations, smart contracts, liquidity and cross-chain activity, while withdrawals can take up to three days.

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Kraken launches yield vaults for tokenised stocks

Q: Why did Kraken launch xStocks Vaults?

Kraken launched xStocks Vaults to let eligible users earn variable yield on tokenised stocks and ETFs while keeping exposure to their prices.

Written by Mahathir BayenaPublished Sep 15, 2026, 1:23 AM

Kraken has launched three vaults that offer yield on tokenised stocks and ETFs.
The vaults cover SPYx, QQQx and NVDAx, with estimated yields of up to 2%.
The strategy carries risks linked to leverage, liquidations, smart contracts and market liquidity.

Kraken has launched three xStocks vaults that let eligible users earn variable yield on tokenised stocks and ETFs.

The vaults support SPYx, QQQx and NVDAx, which track the S&P 500, Nasdaq 100 and Nvidia.

Kraken currently shows estimated net annual yields of 2% for SPYx and QQQx, and 1.8% for NVDAx.

Rewards are added to the same token held by each user, allowing the vault to compound returns automatically.

The strategy uses deposited tokens as collateral to borrow stablecoins through DeFi lending markets, with those funds used to generate returns.

Kraken charges a 25% performance fee, while the displayed yields already account for that fee and can change with market conditions.

The vaults also carry liquidation, smart contract, liquidity and cross-chain risks, while users can face a three-day withdrawal wait during the redemption process.