iShares Ethereum Trust (Ondo Tokenized) 

ETHAON  Price

What is iShares Ethereum Trust (Ondo Tokenized) (ETHAon)?

ETHAon gives crypto traders onchain exposure to BlackRock's iShares Ethereum Trust ETF (ETHA) without leaving a wallet. Ondo Finance issues each ETHAon token as economic exposure similar to one share of the underlying ETF, which in turn seeks to reflect ether's price performance. ETHAon is a tokenized security. DropsTab classifies ETHAon under TokenizedStock.

What is the difference between ETHA and ETHAon?

ETHA is the US-listed iShares Ethereum Trust ETF managed by BlackRock, tradable on US exchanges during market hours. ETHAon is the onchain wrapper: one token represents the economic exposure of one ETF share, transferable around the clock and usable in DeFi. ETHAon does not confer direct share ownership - the wrapper packages price exposure into a transferable onchain instrument.

What is the ETHA 1-for-3 reverse split on October 6, 2026?

The underlying iShares Ethereum Trust ETF executed a 1-for-3 reverse split, with a record date of October 5, 2026 and split-adjusted share trading from October 6, 2026, per iShares. ETHAon mirrors the split mechanically, because each token maps to one share's economic exposure. The split is a wrapper-ratio adjustment. ETHAon's supply remains driven entirely by mint and redemption demand.

What backs ETHAon's value?

Each ETHAon token is fully backed by equities held at US-registered broker-dealers plus cash in transit, per Ondo's disclosures. Holders can redeem tokens for stablecoins at the prevailing underlying value when redemption is available. Reserve backing, not market sentiment, anchors ETHAon's value to the underlying ETF's NAV.

Is ETHAon traded 24/7 or only during US market hours?

Onchain transfers and DeFi use run 24/7/365. Minting and redemption align with US market hours - 24/5 for applicable securities. The result is a two-layer market: ETHAon moves continuously onchain, while the underlying ETHA ETF trades on US exchanges during market hours only.

Where can you buy the ETHAon tokenized ETF, and who is eligible?

Ondo's app is the primary venue, offering a dedicated ETHAon asset page with live price and chart. ETHAon is available to non-US investors only, subject to jurisdictional restrictions. Onchain secondary liquidity is thin - a single primary venue and a very small float mean secondary prices can deviate from the underlying ETF's NAV during volatile periods.

Are tokenized stocks like ETHAon legitimate?

Tokenized stocks under an SEC-aligned model are regulated instruments. Ondo launched the model in July 2026 with BlackRock iShares ETFs and Micron shares included. ETHAon remains a claim on ETF exposure, and carries wrapper and liquidity risk on top of ether price risk.

Who is the largest in tokenized stocks?

DropsTab's TokenizedStock category ranking places the tokenized iShares ETFs issued by Ondo Finance - the family ETHAon belongs to - among the largest tokenized stocks by market value, after Ondo launched the SEC-aligned model with BlackRock iShares ETFs in July 2026. Rankings shift with mint and redemption demand rather than sentiment; see DropsTab's live TokenizedStock ranking for the current order.

Which blockchains does ETHAon exist on?

ETHAon exists on three chains: Ethereum, BNB Chain, and Solana, matching Ondo's multi-chain catalog. The wrapper has no fixed maximum supply - tokens are minted and burned against ETF holdings, so supply tracks investor demand. Per DropsTab data, total supply stood at roughly 314 tokens as of August 2026, split across the three contracts.