We propose a new transformer-based image and video tokenizer with Binary Spherical Quantization (BSQ). BSQ projects the high-dimensional visual embedding to a lower-dimensional hypersphere and then applies binary quantization. BSQ is (1) parameter-efficient without an explicit codebook, (2) scalable to arbitrary token dimensions, and (3) compact: compressing visual data by up to 100×with minimal distortion. Our tokenizer uses a transformer encoder and decoder with simple block-wise causal masking to support variable-length videos as input. The resulting BSQ-ViT achieves state-of-the-art visual reconstruction quality on image and video reconstruction benchmarks with 2.4× throughput compared to the best prior methods. Furthermore, by learning an autoregressive prior for adaptive arithmetic coding, BSQ-ViT achieves comparable visual compression results with commonly used compression standards, e.g. JPEG2000/WebP for images and H.264/H.265 for videos. BSQ-ViT also enables masked language models to achieve competitive image synthesis quality to GAN and diffusion approaches.