I thought SK Hynix had one share. Then I looked at the US listing.
SK Hynix’s common shares trade in Korea under 000660.
Its Nasdaq-listed security, SKHY, is an ADS — and 1 ADS represents 1/10 of a common share.
That sounds like a technical detail.
But it changes how I read prices.
A price only makes sense once I know what one unit represents.
Then there is SKHYB.
Binance launched SKHYB as a bStock backed 1:1 by real US-listed SK Hynix shares.
So when I see “1:1 backed,” I don’t automatically read it as:
“one token = one Korean common share.”
That’s why “1:1 backed” is only the starting point for me — I also want to know what security that 1 actually refers to.
I first want to know which security sits underneath the token — and how that security is denominated.
Same company ≠ same unit.
That’s the useful check for me:
before comparing prices, check what one unit actually represents.
#bstockscis @BinanceCIS
SK Hynix’s common shares trade in Korea under 000660.
Its Nasdaq-listed security, SKHY, is an ADS — and 1 ADS represents 1/10 of a common share.
That sounds like a technical detail.
But it changes how I read prices.
A price only makes sense once I know what one unit represents.
Then there is SKHYB.
Binance launched SKHYB as a bStock backed 1:1 by real US-listed SK Hynix shares.
So when I see “1:1 backed,” I don’t automatically read it as:
“one token = one Korean common share.”
That’s why “1:1 backed” is only the starting point for me — I also want to know what security that 1 actually refers to.
I first want to know which security sits underneath the token — and how that security is denominated.
Same company ≠ same unit.
That’s the useful check for me:
before comparing prices, check what one unit actually represents.
#bstockscis @BinanceCIS