Ondo Finance’s tokenized ETF platform is expanding across blockchain networks, led by IVVon, a tokenized version of BlackRock’s iShares Core S&P 500 ETF, which reached approximately $70 million on Ethereum and became the largest tokenized ETF by market capitalization. FXIon, Ondo’s tokenized version of BlackRock’s iShares China Large-Cap ETF, surpassed 59,000 holders across Ethereum, BNB Chain and Solana despite an on-chain market capitalization of roughly $290,000. IVVon grew from about $22 million at the start of the year and represented approximately 12% of the tokenized ETF market, ahead of IBITon at $47.8 million and SPYx at $47.6 million, while the wider category exceeded $500 million. Both products are backed 1:1 by underlying ETF shares held in custody, although investor rights vary by product and jurisdiction. Ondo Global Markets had more than 440 tokenized US stocks and ETFs by mid-2026, while Ondo Stocks exceeded $1 billion in total value locked and recorded $27 billion in cumulative trading volume. The broader ecosystem had more than 200,000 holders by mid-August 2026. FXIon launched in late July 2025, and its holder count rose more than 9,000% in its first 30 days; its dividends are reinvested. Ondo added 24/7 instant minting and redemption in June 2026, while Oasis Pro Markets received FINRA authorizations in July 2026 to offer more tokenized equities and funds to US investors under securities-market oversight.