Ondo Finance’s tokenized version of BlackRock’s iShares China Large-Cap ETF, FXIon, has surpassed 59,000 holders across Ethereum, BNB Chain and Solana, despite an on-chain market capitalization of roughly $290,000. Trading at about $35-$36 per token with an approximately 8,000-token circulating supply, FXIon gives non-US investors access to major Chinese equities through blockchain-based ownership. Launched in late July 2025, the token’s holder count increased more than 9,000% during its first 30 days. At the current market capitalization, the average holder has about $4.90 of FXIon. Each token is backed 1:1 by an underlying share of the ETF held in custody, while dividends are reinvested to provide compounding similar to a traditional brokerage account. Created by Ondo Global Markets (BVI) Limited, FXIon is available through Ondo Stocks, which launched in September 2025 and has tokenized numerous US stocks and ETFs. Ondo Stocks has exceeded $1 billion in total value locked and recorded $27 billion in cumulative trading volume. The wider Ondo ecosystem had more than 200,000 holders by mid-August 2026, up roughly 20% in 30 days. FXIon’s growth appears tied to broader adoption of the Ondo platform and crypto-native demand for tokenized traditional financial products; no major regulatory developments or new partnerships were recently announced specifically for the token.