SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPYON is a tokenized representation of the SPDR S&P 500 ETF, issued by Ondo Finance, that is designed to give non-US retail and institutional users economic exposure similar to holding the underlying SPY fund, with dividends reinvested. It exists on multiple blockchains, including Ethereum, Solana, and BNB Chain, and operates within what Ondo calls its Global Markets product. The problem it claims to address is limited access: investors outside the United States have traditionally faced barriers to participating in US-listed exchange-traded funds, and SPYON is structured to let them mint and redeem tokens around the clock on trading days against traditional exchange liquidity.

Each SPYON token is backed by the underlying SPDR S&P 500 ETF held in custody, with Ondo handling the creation and redemption process so that the token price tracks the net asset value of SPY including reinvested dividends. Users can mint new tokens or redeem existing ones 24 hours a day, five days a week, with settlement occurring on the blockchains where the token is deployed rather than through traditional brokerage infrastructure. The token itself does not carry governance rights or staking functions; it is purely a representation of the economic interest in the underlying ETF.

The data provided does not include a fee stream, revenue figures, or protocol earnings specific to SPYON, so no fee-based measures can be reported here. The circulating supply stands at approximately 60,135 tokens at the point-in-time recorded, with a market capitalisation of roughly 46.59 million US dollars and a price of 774.68 US dollars per token. The fully diluted valuation to market-cap ratio sits at 1.000025, meaning virtually the entire token supply is already in circulation, which is consistent with the supply issued percentage showing 100 percent. Because there is no fee data in the record, this site carries no revenue, fee yield, or earnings metrics for this asset.