SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPYON is a tokenized representation of the SPDR S&P 500 ETF, created by Ondo Finance, that gives holders economic exposure similar to owning the traditional SPY exchange-traded fund, with dividends reinvested rather than distributed separately. It is designed for non-US retail and institutional users who want access to U.S. equity market exposure through a digital token rather than a conventional brokerage account. The product addresses the practical difficulty many international investors face when trying to access U.S.-listed ETFs through traditional financial channels.

SPYON tokens can be minted and redeemed around the clock on five trading days per week, with settlement connected to traditional exchange liquidity for the underlying SPY ETF. The token exists across multiple blockchain ecosystems, including Ethereum, Solana, BNB Chain, and HyperEVM, meaning it can be held and transferred on any of those networks. The tokenized structure aims to keep the on-chain price tracking the net asset value of the underlying ETF, with Ondo acting as the intermediary that manages the connection between the on-chain token and the off-chain asset.

The data provided does not include a fee stream, revenue figures, or protocol earnings for SPYON, so no fee-based measures are available on this page. The token's market capitalization stands at 45,961,220 USD at the point-in-time snapshot, with a circulating supply of approximately 59,123 tokens priced at 777.40 USD each. The fully diluted value is essentially identical to the market capitalization, reflected by an fdv-to-mcap ratio of 1.000001, which is consistent with a tokenized asset whose supply tracks the underlying holdings rather than a fixed issuance schedule.