SPDR S&P 500 ETF (Ondo Tokenized) (SPYON) is a tokenised version of the SPDR S&P 500 ETF Trust. The SPDR S&P 500 ETF Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index, which is composed of 500 selected stocks. SPYON is issued via Ondo Finance’s tokenisation platform and is backed 1:1 by the underlying SPY shares.

SPYON enables eligible investors to gain on‑chain exposure to the broad performance of the S&P 500 Index through the well‑known SPDR S&P 500 ETF structure. It combines traditional ETF exposure with the benefits of blockchain infrastructure, such as programmability, faster settlement, and integration with decentralised finance frameworks.

SPYON is issued by Ondo Finance, a platform that tokenises real‑world financial assets — including ETFs and equities — into fully backed digital tokens. Ondo oversees the custody, issuance, and regulatory compliance that ensures each SPYON token corresponds to one share of the underlying ETF.