SanDisk (bStocks Tokenized Stock)
sndkbWhat is SanDisk (bStocks Tokenized Stock)?
SNDKB is one asset in the bStocks programme. bStocks describes these products as certificates representing financial instruments, issued by BTECH Holdings Ltd, an ADGM-registered special-purpose vehicle and Binance group affiliate. The programme says corresponding underlying equity is held at a US-registered broker-dealer. An official SanDisk prospectus is dated June 11, 2026, and BNB Chain launch material identifies SNDKB as a BEP-20 bStock on BNB Smart Chain. Holders obtain contractual economic exposure through the issuer’s structure, not a direct entry on SanDisk’s shareholder register.
What problem does SanDisk (bStocks Tokenized Stock) solve?
SNDKB is intended to make SanDisk-linked economic exposure transferable onchain and tradable outside conventional US market hours. This convenience changes the risk model: holders depend on BTECH Holdings, its broker-custodian and conversion arrangements, the relevant trading venue, the accuracy and timing of collateral reporting, and the token contract’s controls. Geographic restrictions apply, including restrictions concerning US Persons. The reviewed material does not establish an unconditional redemption right available to every wallet.
How does SanDisk (bStocks Tokenized Stock) work?
The issuer says its special-purpose vehicle acquires and maintains underlying shares with a regulated broker-dealer while corresponding bStocks are issued on BNB Smart Chain. Secondary-market prices are set by supply and demand and may diverge from the underlying equity. The programme uses a multiplier for dividends and stock splits: net dividends are described as being reinvested after applicable US withholding tax, while splits adjust effective token balances. Eligible users may convert through Binance into the underlying security, subject to applicable law, jurisdictional eligibility, operational availability, maintenance and corporate-action processing. The issuer’s integration policy also permits wallet blacklisting for legal, regulatory or sanctions reasons. The reviewed sources do not establish the current controller addresses or full live privilege configuration of the SNDKB contract.
Key facts
- Canonical CoinGecko ID: `sandisk-bstocks-tokenized-stock`; displayed ticker: SNDKB.
- SNDKB is described as a BEP-20 tokenized security on BNB Smart Chain. CoinGecko and Binance market data associate it with contract `0x3ee4df61bd4f867e349beae8bfe07bc31b4850fb`.
- The issuer is BTECH Holdings Ltd, described by bStocks as an ADGM-registered special-purpose vehicle and a Binance group affiliate; the programme says underlying equity is maintained with a US-registered broker-dealer.
- The official SanDisk bStocks prospectus is dated June 11, 2026; RWA.xyz reports an inception date of June 5, 2026.
- SNDKB is not direct ownership of SanDisk shares, does not itself confer SanDisk voting rights, and is not an entry on SanDisk’s shareholder register.
- The programme says net dividends are reinvested after applicable US withholding tax and reflected through a multiplier; stock splits also adjust the multiplier or effective balances. One raw token unit should not be assumed always to equal one unadjusted SanDisk share.
- The issuer describes conversion through Binance as available only to eligible users and subject to applicable law, jurisdiction, maintenance, corporate actions and operational availability—not as an unconditional onchain redemption right for every wallet.
- The issuer says collateral is periodically checked against outstanding bStock supply, but its transparency publication may lag real-time settlement, pending transactions or operational adjustments. This review did not independently reconcile SanDisk custodian holdings with live SNDKB supply.
- The issuer reserves the ability to blacklist addresses for compliance. The current SNDKB administrator, role holders, proxy implementation and live upgrade configuration were not established from the reviewed sources.
- No fixed maximum supply or SNDKB-specific public source-code repository was found. CoinGecko and RWA.xyz showed materially different point-in-time supply figures, so neither figure should be treated as a durable cap.
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Frequently asked questions
Is SNDKB the same as owning a SanDisk share?
No. bStocks describes SNDKB as a tokenized certificate providing contractual economic exposure, not direct ownership of a SanDisk share. A holder is not automatically entered on SanDisk’s shareholder register and does not receive SanDisk voting rights through the token.
Can SNDKB be converted into SanDisk shares?
The issuer says eligible holders may convert bStocks into the corresponding underlying security through Binance. Availability depends on applicable law, jurisdictional and account eligibility, maintenance, corporate-action processing and operations, so this is not an unconditional onchain redemption right for every wallet.
How are dividends, stock splits and the conversion ratio handled?
According to bStocks, net dividends are reinvested after applicable US withholding tax and reflected through a multiplier. Forward and reverse splits also change the multiplier or effective balance. The ratio can therefore change, and one raw token unit should not be assumed always to equal one unadjusted SanDisk share; this is an issuer-described mechanism rather than a direct cash dividend from SanDisk.
How is SNDKB backed, and is the collateral proof real-time?
The programme says corresponding equity is maintained with a US-registered broker-dealer and periodically checked against outstanding bStock supply. Its transparency page warns that publication may not reflect real-time settlement, pending transactions or operational adjustments. This review did not independently reconcile SanDisk-specific custodian holdings with live token supply.
What contract controls and supply limits should holders know about?
Market identity sources associate SNDKB with BNB Smart Chain contract `0x3ee4df61bd4f867e349beae8bfe07bc31b4850fb`. The issuer may blacklist wallets for compliance, but the current administrator, role holders, proxy implementation and upgrade status were not established. No fixed maximum supply was found, and CoinGecko and RWA.xyz showed conflicting point-in-time supply snapshots.
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