iShares 0-3 Month Treasury Bond ETF (Ondo Tokenized ETF) 

SGOVON  Price

What is SGOVon (iShares 0-3 Month Treasury Bond ETF — Ondo Tokenized ETF)?

SGOVon gives crypto users on-chain exposure to US Treasury bills without leaving a blockchain wallet. The token is a real-world asset (RWA) wrapper issued by Ondo Global Markets, pegged 1:1 to the economic value of shares in BlackRock's iShares 0-3 Month Treasury Bond ETF (SGOV). The tokenized version launched on July 31, 2025 and trades around the clock versus the underlying ETF's US market hours.

Which asset does the SGOVon tokenized ETF track?

Each SGOVON token tracks one share of the iShares 0-3 Month Treasury Bond ETF (SGOV). The underlying ETF, launched May 26, 2020, follows the ICE 0-3 Month US Treasury Securities Index — US Treasury bills with 0–3 month maturities. The fund charges a 0.09% expense ratio.

How does SGOVon differ from holding SGOV shares directly?

SGOVon packages the same economic exposure into a transferable on-chain token. The wrapper trades around the clock, moves across three blockchains, and is mintable/redeemable through Ondo's platform 24 hours a day, five days a week. Direct SGOV shares trade only during US market hours through a brokerage. The wrapper does not confer direct share ownership — holders get NAV-pegged price exposure with dividends reinvested.

What backs SGOVon's value?

One SGOVON token is backed by one SGOV share held through the wrapper structure, with fund dividends reinvested rather than distributed. NAV sits in the ~$100-per-token range, consistent with SGOV's share price. Service providers include Alpaca Securities (broker/transfer agent), BitGo (crypto custodian), and BPM UK Audit Ltd (auditor).

Which blockchains is the SGOVon tokenized ETF available on?

SGOVon is multichain, deployed on Solana (Token-2022 standard), Ethereum (ERC-20, 18 decimals), and BNB Chain. The large majority of supply sits on Ethereum, with smaller portions on BNB Chain and Solana. Explorer-verified contract addresses for all three chains are listed on this page.

How is SGOVon traded — centralized exchange or issuer platform?

SGOVon's third-party liquidity is CEX-dominated and thin. Per DropsTab data, LBank carries the only tracked spot pair, SGOVON/USDT, with zero DEX venues tracked. The deepest market is Ondo's own platform, where eligible users trade and mint/redeem directly. Thin on-exchange liquidity means wider spreads on the single CEX listing than on the issuer's platform.

Can US investors buy SGOVon?

No — SGOVon is offered to non-US investors only. The token is issued under the US Securities Act Regulation S exemption and domiciled in the British Virgin Islands. The Reg S structure makes the wrapper a geo-restricted securities instrument by design, which is why minting and redemption run through eligibility checks on Ondo's platform.

Does SGOVon have a maximum supply?

SGOVon has no maximum supply — supply expands and contracts with investor demand. New tokens are minted 1:1 against deposited funds that purchase underlying SGOV shares, and tokens are burned on redemption. Per DropsTab data, total supply stood at roughly 83,749 SGOVON as of August 2026. No mining, staking, or protocol emission exists.

What fees does SGOVon charge?

Ondo lists 0% management, performance, subscription, and redemption fees on the SGOVon wrapper itself. The underlying iShares SGOV ETF charges its 0.09% expense ratio, which is already reflected in the fund's NAV. Yield accrues through dividend reinvestment inside the wrapper rather than a separate staking mechanism.