iShares 20+ Year Treasury Bond ETF (Ondo Tokenized) (TLTON) is a tokenised fixed-income product that provides on‑chain exposure to the iShares 20+ Year Treasury Bond ETF (TLT). Each TLTON token represents economic rights equivalent to 1.02 shares of the underlying ETF. It is issued by Ondo Finance and enables blockchain-based access to long-duration U.S. Treasury bonds.

TLTON allows eligible investors to gain on‑chain exposure to long-term U.S. Treasury bonds through a token format. The token tracks the performance of the iShares 20+ Year Treasury Bond ETF, which invests primarily in public obligations of the U.S. Treasury with maturities of 20 years or more. This tokenised structure facilitates programmable ownership, easier settlement, and potential integration with decentralised finance protocols.

TLTON was issued by Ondo Finance, a company focused on creating tokenised real-world assets. Ondo structures tokenised representations of traditional financial instruments and maintains their linkage to the underlying through custodial and regulatory processes.