What is GLDx's quality score?

GLDx (Backed Finance) scores 77/100 on OnChain Benchmark's RWA Quality Rating — Institutional-grade, as of Oct 5, 2026 (methodology v1.6).

How is GLDx's quality score calculated?

OnChain Benchmark scores GLDx across four dimensions, each out of 25: disclosure quality (17/25), redemption liquidity (25/25), structural trust (16/25), and holder concentration (not published — holder base too large or too widely distributed to measure to ground truth). Each is multiplied by its methodology weight (structural trust ×1.4, holder concentration ×1.3, redemption liquidity ×0.9, disclosure quality ×0.4; weights sum to 4.0) and summed into the 77/100 composite — a weighted, not a plain, sum, so the four dimension scores do not add directly to the total. The full rubric is published at onchainbenchmark.com/methodology.

How concentrated is GLDx's ownership?

OnChain Benchmark does not publish a holder-concentration figure for GLDx: its holder base cannot be measured to ground truth (holder concentration is withheld rather than published as an unverifiable number). GLDx's composite reflects its other measured dimensions.

What does Institutional-grade mean?

Under OnChain Benchmark methodology v1.6, composite scores grade as Verified Capital (≥ 85), Institutional-grade (≥ 70), Developing (55–69), and Limited (below 55). GLDx scores 77/100, placing it in Institutional-grade. Note that one of four dimensions cannot yet be measured for this instrument: Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. The composite reflects the three measured dimensions, renormalized.

OCB — Quality Rating · Commodity ETFs

GLDx Quality Rating

GLDx (Backed Finance) scores 77/100 on OnChain Benchmark's RWA Quality Rating — rated Institutional-grade (methodology v1.6, as of Oct 5, 2026).

Latest onchain read Oct 5, 2026

Updated daily

Quality score

of 100 · Institutional-grade

Dimensions measured

of 4

Outstanding supply

$12.14M

as of Oct 5, 2026

Chains

with measured supply

Why GLDx scores 77

The biggest gap in GLDx's score is how its custody is verified.

The three measured dimensions, each multiplied by its weight, total 51.7 of a possible 67.5. Rescaled to 100, that is 76.59, rounded to 77.

Composite

77 / 100

Dimension	Score	Weight	Why it scored this
Structural Trust Custody is only partly verified: there is some independent confirmation, but not the full, itemized verification that earns top marks. An admin can upgrade the contract without a timelock, controlled by a minimal multisig (such as 2-of-3). The top regulatory standing needs SEC registration with a PCAOB-registered auditor. Upgrade factorCustody verified independently, with public reports.	16 / 25	×1.4	Custody is only partly verified: there is some independent confirmation, but not the full, itemized verification that earns top marks. An admin can upgrade the contract without a timelock, controlled by a minimal multisig (such as 2-of-3). The top regulatory standing needs SEC registration with a PCAOB-registered auditor. Upgrade factorCustody verified independently, with public reports.
Disclosure Quality There is no independent way to check the holdings. The latest attestation is 1 day old, with 23 in the last six months. Upgrade factorIndependent confirmation of this token's own holdings, at least monthly.	17 / 25	×0.4	There is no independent way to check the holdings. The latest attestation is 1 day old, with 23 in the last six months. Upgrade factorIndependent confirmation of this token's own holdings, at least monthly.
Redemption Liquidity Full marks.	25 / 25	×0.9	Full marks.
Holder Concentration Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published.	— / 25	×1.3	Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published.

OCB Instrument

Outstanding supply

Measured onchain daily, summed across every chain the fund is issued on. Latest reading $12.14M.

Source: OCB Quality Ratings · GLDx · onchainbenchmark.comMeasured daily · Oct 5, 2026

OCB Instrument

Rating history

GLDx’s quality rating, measured daily.

Source: OCB Quality Ratings · GLDx · onchainbenchmark.comRecomputed daily · Oct 5, 2026

Key facts

Issuer, rubric and methodology

Issuer: Backed Finance
Asset class: Commodity ETFs
Rubric: RWA Quality Rating
Methodology: v1.6
Last scored: Oct 5, 2026
What it is: Tokenized wrapper of SPDR Gold Shares (GLD), a Backed Finance xStock.

Chain

Share of measured supply by chain

With measured supply

Chain	Contract	Share of measured supply
Solana	Xsv9hRk1…wtD3reExplorer ↗	100.0%

Evidence

Verified facts behind the rating

A sample of the verified facts behind GLDx’s score. The full diligence trail is in the terminal.

Facts shown

Dimension	Fact	Finding	Verified	Source
Disclosure Quality	Contract address	Contract address verified on Solana: Xsv9hRk1z5ystj9MhnA7Lq4vjSsLwzL2nxrwmwtD3re (primary deployment) Confirmed active onchain.	Aug 5, 2026	Verified against primary sources

Cite this rating

Reference GLDx’s rating

Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.

Plain

OnChain Benchmark (2026). GLDx Quality Rating: 77/100 (Institutional-grade), as of Oct 5, 2026. Methodology v1.6. https://onchainbenchmark.com/instruments/gld-xstock

Harvard

OnChain Benchmark (2026) 'GLDx Quality Rating', OnChain Benchmark, Institutional-grade, 77/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/gld-xstock (Accessed: Oct 5, 2026).

BibTeX

@misc{ocb_gld-xstock_2026,
  author = {{OnChain Benchmark}},
  title = {{GLDx Quality Rating}},
  year = {2026},
  note = {77/100, Institutional-grade, methodology v1.6},
  url = {https://onchainbenchmark.com/instruments/gld-xstock}
}

Full diligence trail

The interactive terminal shows every verified fact behind GLDx's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.

Open in the terminal →Read the methodology →

Dimension

Score

Structural Trust

Custody is only partly verified: there is some independent confirmation, but not the full, itemized verification that earns top marks. An admin can upgrade the contract without a timelock, controlled by a minimal multisig (such as 2-of-3). The top regulatory standing needs SEC registration with a PCAOB-registered auditor.

Upgrade factorCustody verified independently, with public reports.

16 / 25

Disclosure Quality

There is no independent way to check the holdings. The latest attestation is 1 day old, with 23 in the last six months.

Upgrade factorIndependent confirmation of this token's own holdings, at least monthly.

17 / 25

Redemption Liquidity

Full marks.

25 / 25

Holder Concentration

Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published.

— / 25

Chain

Share of measured supply

Solana

100.0%

Dimension

Finding

Verified

Disclosure Quality

Contract address verified on Solana: Xsv9hRk1z5ystj9MhnA7Lq4vjSsLwzL2nxrwmwtD3re (primary deployment)

Confirmed active onchain.

Aug 5, 2026

OnChain Benchmark (2026) 'GLDx Quality Rating', OnChain Benchmark, Institutional-grade, 77/100, methodology v1.6. Available at: https://onchainbenchmark.com/instruments/gld-xstock (Accessed: Oct 5, 2026).

@misc{ocb_gld-xstock_2026, author = {{OnChain Benchmark}}, title = {{GLDx Quality Rating}}, year = {2026}, note = {77/100, Institutional-grade, methodology v1.6}, url = {https://onchainbenchmark.com/instruments/gld-xstock} }