SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPYON Price

About SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYon)

SPYon is a tokenized representation of the SPDR S&P 500 ETF (SPY) issued by Ondo Finance, offering token holders economic exposure to the S&P 500 index.

• The asset allows non-US retail and institutional users to mint and redeem tokenized U.S. stocks and ETFs with access to traditional exchange liquidity.
• It provides exposure to the underlying asset's price movements and automatically reinvests dividends received from the traditional ETF shares.
• The platform enables 24/5 trading and settlement on-chain, bridging the gap between traditional equity markets and real-world assets in crypto.

What Is SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPYon is a digital wrapper for the SPDR S&P 500 ETF (SPY), which is one of the world's most traded exchange-traded funds tracking the performance of 500 large-cap U.S. companies. Through the Ondo Global Markets platform, the economic value of these shares is brought on-chain as a digital token.

Value moves through the system as the token's price tracks the net asset value of the underlying SPY shares held in custody. The token is put to work by allowing investors to maintain equity exposure within a digital wallet, facilitating its use in various decentralized applications without needing a traditional brokerage account. This infrastructure scales by integrating diverse traditional financial instruments into the blockchain ecosystem.

What Makes SPDR S&P 500 ETF (Ondo Tokenized ETF) Unique

• Institutional Bridge: It provides a direct link between traditional brokerage accounts and blockchain-based wallets for international investors.
• Continuous Access: While traditional markets have strict hours, the tokenized format allows for on-chain interactions and transfers 24 hours a day during the traditional trading week.
• Dividend Reinvestment: The system is designed to automatically capture and reinvest dividends, potentially increasing the efficiency of long-term holdings for token holders.

What Can You Use SPDR S&P 500 ETF (Ondo Tokenized ETF) for?

1. Value retention: The asset allows users to hold a digital, on-chain representation of the SPDR S&P 500 ETF (SPY) and may reduce exposure to crypto-market volatility by tracking traditional equity indices.
2. Yield generation: The source does not specify native yield options beyond the reinvestment of dividends from the underlying SPY shares.
3. Cross-border settlement / value transfer: It provides the capability for international settlement and frictionless cross-border transfer of SPDR S&P 500 ETF (SPY) value using blockchain infrastructure.
4. Collateralization: The source does not specify collateral use for SPYon.

How Does SPDR S&P 500 ETF (Ondo Tokenized ETF) Work?

SPYon operates as a smart contract on various blockchain networks, including Ethereum, Solana, and BNB Chain. When an eligible user mints SPYon, the issuer, Ondo Global Markets (BVI) Limited, purchases an equivalent amount of the underlying SPY ETF shares in the traditional market. These shares are held by a regulated custodian.

The token provides holders with economic rights to the value of the underlying assets, including dividends, but does not grant direct ownership of the physical shares or voting rights in the traditional companies. Transactions involving SPYon are recorded on the public ledger, while the underlying financial operations are managed through the issuer's brokerage and custody infrastructure.

Team Info and Investors

SPYon is issued by Ondo Global Markets (BVI) Limited, a subsidiary of Ondo Finance. The issuer is responsible for the purchase and custody of the underlying SPY ETF shares that back the digital tokens. According to the available documentation, the project is designed to operate within a compliant framework for international institutional investors, though specific details regarding individual founders or early-stage investors are not provided in the primary source material.

Where can you buy SPDR S&P 500 ETF (Ondo Tokenized ETF)?

SPYON tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade SPDR S&P 500 ETF (Ondo Tokenized ETF) is Ondo Stocks, where the most active trading pair SPYON/USDON has a trading volume of $496,295.88 in the last 24 hours. Other popular options include KCEX and Gate.

What is the daily trading volume of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON)?

The trading volume of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is $1,355,470.06 in the last 24 hours, representing a 25.80% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON)?

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) reached an all-time high of $790.96 and an all-time low of $632.69. It’s now trading -4.00% below that peak and 20.00% above its lowest price.

What is the market cap of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON)?

Market capitalization of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is $46,329,418 and is ranked #471 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SPYON tokens (61 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON)?

The fully diluted valuation (FDV) of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is $46,329,418. This is a statistical representation of the maximum market cap, assuming total number of 61 Thousand ETH tokens are in circulation today.

How does the price performance of SPDR S&P 500 ETF (Ondo Tokenized ETF) compare against its peers?

With a price decline of -2.30% in the last 7 days, SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is outperforming the global cryptocurrency market which is down -2.80%, while underperforming when compared to similar Real World Assets (RWA) cryptocurrencies which are down -1.60%.

How to add SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) to MetaMask?

Adding SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SPYON as a token. You can copy SPYON’s contract address (0xfedc5f4a6c38211c1338aa411018dfaf26612c08) and import it manually, or if you've installed MetaMask's chrome extension, add SPYON to MetaMask with one click on CoinGecko.

Add SPYON to MetaMask.