# Ethena Adds Tokenized U.S. Stocks to USDe Backing Strategy

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/24089
Published: 2026-09-25T11:05:00.000Z
Updated: 2026-09-25T11:05:00.000Z

Ethena is adding tokenized U.S. stocks to the backing strategy for USDe as open interest in Binance stock perpetual contracts surpasses $2.9 billion.

The strategy uses Binance bStocks as tokenized spot backing assets and stock perpetual contracts to hedge the exposure and maintain a delta-neutral position. Ethena’s risk committee previously approved adding stock-based basis trading to the allocation strategy.

Open interest in Binance stock perpetuals has grown at a 105% monthly compounded rate this year. The average annualized return for the stock-based basis strategy over the past six months was 3.56%.

The strategy uses backing assets and offsetting derivatives to maintain a delta-neutral position.