SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) is a token circulating under the symbol SPYon and linked to the SPDR S&P 500 ETF Trust (SPY), State Street's SPDR-branded fund. SPY is an exchange-traded fund that tracks the broad-based US S&P 500 equity index; the token therefore indirectly reflects the performance of the US companies in that index. The issuer is Ondo Global Markets (BVI) Limited.

Ondo states that its tokenized ETFs are fully backed by the underlying fund units and cash in transit, and that the units are held with US broker-dealers. Dividends distributed by the fund are reinvested and reflected in the token price; according to the documentation, for ETF distributions whose amount is not yet known, trading may be halted until the amount is settled. The token is not an SPY fund unit and is not offered to persons in the United States; it is available on the Ethereum, BNB Chain, Solana and HyperEVM networks.

On Lzzo.com, SPYon is matched by issuer and Ethereum contract address; the price comes from the US dollar reference data DefiLlama publishes for this contract. Because the raw token unit on Ethereum includes reinvested distributions, its price may appear on a different scale from SPY's exchange price.