The tokenized version of the Franklin U.S. Equity Index ETF (USPX), named $USPXx, has been launched on the Mantle network, marking one of the earliest on-chain distributions of a traditional ETF. The announcement was made via Mantle's official social media channel on June 23, 2026.
$USPXx represents a roughly $2 billion segment of the U.S. equity market. The underlying ETF (USPX) is issued by Franklin Templeton, a global asset management giant. The tokenized version is issued by xStocksFi, a platform specializing in asset tokenization.
The tokenized ETF is tradable around the clock on Fluxion, a decentralized exchange (DEX) built on Mantle. This allows investors to gain exposure to a traditional U.S. stock index ETF directly on-chain, with the benefits of 24/7 liquidity and non-custodial trading.
Mantle is an Ethereum-compatible Layer 2 scaling solution designed for high throughput and low fees. By hosting the first on-chain venue for $USPXx, Mantle expands its ecosystem into traditional finance assets, bridging the gap between traditional securities and decentralized finance (DeFi).
Fluxion serves as the primary DEX on Mantle, providing a seamless trading experience for users. xStocksFi handles the issuance and compliance aspects, ensuring that the tokenized ETF meets regulatory standards while being accessible to a global user base.
This launch represents a significant step forward in the tokenization of real-world assets (RWAs), particularly in making established ETFs available on public blockchains. Investors can now trade $USPXx directly through Fluxion without the need for traditional brokerage accounts, albeit with full transparency and on-chain settlement.
The integration also highlights the growing interest from traditional asset managers in leveraging blockchain technology for distribution and liquidity provision. Franklin Templeton's participation further validates the potential of tokenized ETFs to democratize access to equity markets.