Binance to Support SPDR S&P 500 ETF Cash Dividend Distribution for SPYB Holders

According to the announcement from Binance, the platform will support the SPDR S&P 500 ETF (SPY) cash dividend distribution through bStocks for SPYB holders. The net cash dividend amount will be reinvested, after applicable withholding taxes, fees, costs, and other deductions, into additional units or fractions of the same underlying security. Eligible users will receive the dividend in the form of SPYB bStocks, while on-chain holders of SPYB will receive the bStock dividend through a multiplier adjustment. Binance said users with SPYB holding SPY on the record date snapshot at 2026-09-18 00:00 (UTC) will be eligible for the distribution. Trading of SPYB/USDT will not be affected by the event. Binance also said it will handle the technical requirements for users involved in the distribution, and dividends earned from assets held in other accounts, including Savings Account and Margin Account, will be credited to the Spot Account. The announcement said reinvestment and distribution will occur after deduction of withholding tax. Binance said the token conversion service for 1:1 swaps between SPY stock and SPYB bStocks will be suspended at 2026-09-17 23:30 (UTC). Deposits and withdrawals of SPYB will also be suspended at 2026-09-17 23:30 (UTC), and users were advised to allow enough time for deposits to be fully processed before that time. Binance Convert will pause the conversion of SPYB and all associated pairs at 2026-09-17 23:30 (UTC). Deposits, withdrawals, and the token conversion service for SPYB will resume when the distribution is completed. Binance said no further announcements will be posted and that recovery notification subscriptions are available where supported.