what's iShares Silver Trust (Ondo Tokenized Stock)?

SLVON is an ERC-20 token issued by Ondo Finance, representing a tokenized version of BlackRock's iShares Silver Trust (SLV), a physically backed silver ETF. It provides token holders with economic exposure to the spot price of silver, mirroring SLV share performance including any dividend reinvestments, while operating fully on the Ethereum blockchain. This real-world asset (RWA) tokenization enables 24/7 global access for non-U.S. retail and institutional users, with instant minting and redeeming backed by traditional exchange liquidity. SLVON facilitates seamless integration of precious metals exposure into DeFi ecosystems via standard ERC-20 compatibility.

iShares Silver Trust (Ondo) recorded $1M onchain buy volume on January 12, 2026.