Mixue Tokenized Stock (xStock) (MIXUx) price

Mixue Tokenized Stock (xStock), ticker MIXUx, is a tokenized share: a digital token on Ethereum meant to track the stock price of Mixue, the Chinese tea and ice cream chain listed in Hong Kong. It sits in the tokenized stocks and real-world asset (RWA) categories. It is for people who want price exposure to the stock through a crypto wallet or exchange rather than a broker.

The xStocks line is issued by Backed. The idea is that each token is backed by shares held by a custodian, and tokens can be minted and redeemed. The project has no consensus mechanism of its own: it is a smart contract running on existing networks. According to CoinGecko, the token is available on Ethereum, Solana, BNB Chain, Arbitrum and Optimism. It gives no access to network fees or governance. Its value depends on how closely the price follows the share. What a holder is entitled to (dividends, voting) is set by the issuer's terms, which are worth reading separately.

There is no maximum supply: tokens are created and redeemed with demand, and about 2.44 million MIXUx are in circulation now. For a holder this means supply follows demand rather than a fixed issuance schedule.

What to watch and the risks: the reliability of the issuer and custodian, legal restrictions by jurisdiction, and liquidity, since the token trades thinner than the underlying share. Also watch the gap to the exchange price, especially while the Hong Kong market is closed. The price record is $48.39 (October 1, 2026). This is not investment advice.