Tokenized ETF vs traditional ETF: which is better for investing in the S&P 500 from Chile in 2026?

If you want to invest in the S&P 500 from Chile, today you have two ways to do it: through a traditional ETF such as SPY or VOO, or through its tokenized version. On Skipo you can invest in SPYx, the tokenized S&P 500 ETF, commission-free, directly in pesos and available 24 hours a day. You can start from CLP 1,000.

What will we cover in this article?

In this guide we compare the two ways to access the S&P 500: the traditional ETF (SPY, VOO) and the tokenized ETF (SPYx). We explain what each one is, how they work, how they differ in costs, trading hours and settlement, when each option makes sense depending on your profile and how to start investing in the S&P 500 step by step with Skipo. We also tell you why we believe tokenized ETFs are the natural evolution of access to the US market.

What is an S&P 500 ETF and why is it so popular?

The S&P 500 is the stock market index made up of the 500 largest companies in the United States by market capitalization. It includes names such as Apple, NVIDIA, Microsoft, Amazon and Alphabet, and covers roughly 80% of the country's equity market. As of May 2026, according to Twelve Data, the S&P 500 is trading at around 5,870 points, with an annualized return of approximately 13.7% over the last 10 years according to FinanceCharts.

An S&P 500 ETF (Exchange-Traded Fund) is an exchange-traded fund that automatically replicates the composition of that index. When you buy a share, you are investing in all 500 companies at once, in the same proportion as each one's weight in the index. The best known are SPY (SPDR, the most liquid in the world), VOO (Vanguard) and IVV (iShares).

The popularity of the S&P 500 as an investment vehicle comes down to a simple fact: historically, more than 90% of actively managed funds fail to beat its long-term return. Investing in the whole index has consistently been one of the most efficient strategies for building wealth.

In short: the S&P 500 groups the 500 largest US companies, and its ETFs let you invest in all of them with a single trade. As of May 2026, SPY trades at around US$735.

What is a tokenized ETF and how does SPYx work?

A tokenized ETF is a digital version of a traditional ETF that operates on blockchain. It replicates exactly the same index and has the same return, but it works differently: it can be bought and sold 24/7 or 24/5 depending on the ETF, with instant settlement and without depending on stock exchange hours.

SPYx is the tokenized S&P 500 ETF available on Skipo. It replicates the performance of the S&P 500 index, just like SPY or VOO, but with the operational advantages of tokenization: available 24/7, no buy or sell commissions, direct purchase in pesos and instant settlement.

The fundamental difference is this: SPY and SPYx give you exposure to the same index. What changes is how you access that exposure. It's like the difference between a printed book and an ebook: the content is the same, but the way you consume it is different. If you already understand how tokenized stocks work, the concept is exactly the same applied to an ETF.

In short: SPYx is the tokenized version of the S&P 500 ETF. Same index, same return, but available 24/7, commission-free and with instant settlement on Skipo.

What are the differences between a tokenized ETF and a traditional S&P 500 ETF?

Availability and trading hours

Traditional ETFs such as SPY or VOO trade during US market hours: Monday to Friday, 9:30 a.m. to 4:00 p.m. Eastern Time. Chilean ETFs that replicate the S&P 500 trade during Santiago Stock Exchange hours. Outside those windows, you can't buy or sell.

SPYx on Skipo is available 24 hours a day, 7 days a week. If news that moves the market comes out on a Sunday at 11 p.m., you can act immediately. You don't depend on an exchange being open.

Commissions and costs

Traditional ETFs have costs that add up. The ETF itself charges an annual management fee (SPY charges 0.09%, VOO charges 0.03%). On top of that you have to add the broker's commission and, if you trade from Chile with an international broker, the currency spread when converting pesos into dollars. With a Chilean S&P 500 ETF, you trade in pesos, but the management fee is usually higher.

On Skipo, SPYx has no buy, sell, custody or maintenance commission. You buy directly in pesos, without needing to convert to dollars and without currency spreads. It is the simplest cost structure for accessing the S&P 500 from Chile.

Settlement: how long does your money take?

When you sell a traditional ETF through a broker, settlement usually takes between T+1 and T+2 (one or two business days after the sale). That means if you sell on a Monday, your money is released on Tuesday or Wednesday. And if you trade with an international broker, you have to add the time it takes to transfer the money to Chile.

On Skipo, SPYx settlement is instant. You sell, the balance updates in your account immediately, and you can withdraw to your bank in Chile right away. No waiting, no intermediaries.

Minimum investment

To buy one share of SPY you need around US$735 (as of May 2026). VOO trades in a similar range. Some brokers allow fractional purchases, but not all of them.

On Skipo you can invest in SPYx from CLP 1,000. No high minimum amounts or barriers to entry.

Comparison table: SPYx on Skipo vs traditional S&P 500 ETF

In short: SPYx and SPY give exposure to the same index, but SPYx on Skipo offers 24/7 availability, zero commissions, purchases in pesos and instant settlement.

When does each option make sense for your profile?

If you want the simplest, most direct experience

SPYx on Skipo is the option for those who want to invest in the S&P 500 without complications: without opening an account with an international broker, without converting to dollars, without waiting for market hours and without paying commissions. You open the app, deposit pesos, buy SPYx and you're done. It's the most direct way to access the world's most important index from Chile.

If you already trade with a broker and want to keep your setup

If you already have an account with an international broker and are used to trading in dollars, traditional ETFs such as SPY or VOO are still a solid option. They are instruments with decades of history and enormous liquidity. The downside is that you depend on market hours, settlement times and currency conversion costs.

If you want to go beyond the index

An additional advantage of Skipo is that you can invest in more than just SPYx. If at some point you want to overweight specific S&P 500 companies you believe in more, you can complement it with individual xStocks of Apple, NVIDIA, Alphabet, Tesla or MicroStrategy, among others. All in the same app, in pesos and commission-free. To dig deeper into individual tokenized stocks, see our guide to the best platform for investing in stocks in Chile.

Our view

At Skipo we believe tokenized ETFs are the natural evolution of access to international markets. The S&P 500 has proven to be one of the most consistent investment vehicles in history, but until recently accessing it from Chile meant opening accounts abroad, converting to dollars, paying spreads and waiting days for your money to settle. Tokenization removes those barriers.

As of May 2026, SPY trades at around US$735 according to Twelve Data, close to its all-time high. Returns over the last three years (above 20% annualized according to FinanceCharts) confirm that the US market remains the engine of the global economy. We believe more and more people in Chile will want exposure to that engine, and that tokenized ETFs such as SPYx are the most efficient way to get it today.

Unlike other Latin American markets, where access to the S&P 500 still goes through international brokers with long, costly processes, in Chile the infrastructure already makes it possible to do it directly in pesos, with instant settlement and from an app registered with the CMF. That's the advantage of being where we are.

In short: tokenized ETFs such as SPYx don't replace traditional ETFs; they make them more accessible. Same index, same exposure, but without the operational barriers that used to limit access.

How to invest in the S&P 500 with Skipo: step by step

1. Download the Skipo app. Available on the App Store and Google Play.
2. Create your account. Sign up with your email and verify your identity in minutes.
3. Deposit. Transfer pesos from your bank account or crypto from other wallets. The deposit shows up in your Skipo account in seconds.
4. Find SPYx. In the wallet view, search for "SPYx" to find the tokenized S&P 500 ETF.
5. Buy. Choose the amount in pesos you want to invest (from CLP 1,000). Confirm and you're done. The asset shows up in your portfolio instantly.

What is the best way to invest in the S&P 500 from Chile in 2026?

The best way depends on how you want to invest, not just on what you want to invest in. Both traditional and tokenized ETFs give you exposure to the same S&P 500. The difference is in the experience.

If you want to trade during market hours, in dollars, through a broker you already work with, traditional ETFs such as SPY or VOO do the job. If you want exposure to the price of the same index but directly in pesos, commission-free, at any time and with instant settlement, SPYx on Skipo is the most direct alternative on the market.

As of May 2026, investing in the S&P 500 is no longer exclusive or complex. The tools exist. What makes the difference is choosing the one that fits how you want to invest.

Download the Skipo app and start investing in the S&P 500 today.

This article is for information only and does not constitute financial advice. Asset prices can go up or down, and all investing involves risk. Before investing, assess your personal financial situation.

Frequently asked questions

Do SPYx and SPY deliver the same return?

Yes. SPYx replicates the performance of the S&P 500, just like SPY. The difference is not in the return but in how you access it: SPYx trades 24/7, commission-free and with instant settlement on Skipo.

Can I buy SPYx outside US market hours?

Yes. On Skipo, SPYx is available 24 hours a day, 7 days a week. If news that moves the market breaks on a Sunday night, you can act immediately without waiting for Wall Street to open.

How long does it take to buy SPYx on Skipo?

Seconds. As soon as you confirm the purchase, the asset shows up in your portfolio instantly. There's no T+1 or T+2. The same applies to selling: you sell and the balance is available right away to withdraw to your bank.

Do I need a dollar account to invest in SPYx?

No. On Skipo you buy directly in pesos. You don't need to convert to dollars, there's no currency spread and you don't need an account abroad.

Can I complement SPYx with individual S&P 500 stocks?

Yes. In addition to SPYx, on Skipo you can invest in individual xStocks of S&P 500 companies such as Apple, NVIDIA, Alphabet and Tesla. This lets you use the index as your base and overweight the companies you believe in most, all in the same app.

What is the minimum I can invest in SPYx?

CLP 1,000. Unlike a traditional ETF such as SPY, where you need around US$735 to buy a full share, on Skipo you can invest in SPYx from affordable amounts directly in pesos.

Glossary of key terms

Tokenized ETF: A digital version of a traditional ETF that operates on blockchain, keeping the same exposure to the index but with 24/7 or 24/5 availability depending on the ETF, instant settlement and no dependence on stock exchange hours.

ETF (Exchange-Traded Fund): An exchange-traded fund that replicates the composition of an index and trades like a stock during market hours.

S&P 500: A stock market index made up of the 500 largest US companies by market capitalization, covering roughly 80% of the country's equity market.

SPYx: The tokenized S&P 500 ETF available on Skipo. It replicates the same index as SPY but trades 24/7, commission-free and with direct purchase in pesos.

Currency spread: The difference between the buy price and the sell price of a currency that an intermediary applies at the time of conversion.

T+1 / T+2 settlement: A securities market convention in which the actual transfer of assets and payment is completed one or two business days after the transaction.

xStock (tokenized stock): A digital asset backed 1:1 by a real stock, which operates on blockchain and allows buying and selling 24/7 or 24/5 depending on the xStock, with instant settlement.