iShares Core S&P 500 ETF (Ondo Tokenized ETF)

IVVON is a tokenized fund token issued by Ondo Global Markets, part of Ondo Finance, that provides economic exposure to BlackRock's iShares Core S&P 500 ETF (IVV). IVV is an exchange-traded fund that tracks the US S&P 500 index; the token therefore indirectly reflects the performance of the company shares in this index. IVVON is available on Ethereum, BNB Chain, Solana and HyperEVM.

The token is backed by actual ETF shares held with regulated custodians; dividends paid by the fund are automatically reinvested, and this return is reflected in the token's value. Eligible investors can mint and redeem tokens throughout the day on weekdays. The product is open only to retail and institutional investors outside the United States. Holding IVVON is not the same as owning fund shares directly; the investor also bears counterparty risk tied to the issuer's structure and custody arrangements and has no direct access to shareholder rights such as voting rights.

The IVVON price mainly tracks IVV and therefore the S&P 500 index; during hours when US exchanges are closed and at weekends, gaps may emerge between the on-chain price and the underlying fund. This page on Lzzo.com shows DefiLlama's reference price in US dollars; the chart is also drawn from the same source's historical data.