INDAON is a token on Solana that tracks the price of iShares MSCI India ETF. It's issued by Ondo Finance, not by Solflare, and gives you price exposure to the underlying ETF without making you a holder of it. You can hold and swap INDAON in a self-custody wallet such as Solflare.

Why can the price of INDAON differ from iShares MSCI India ETF?

The price of INDAON is set by on-chain trading on Solana. When the underlying market is closed, there's no live price to follow, and when liquidity is thin, a small swap can move the token's price. A scaling factor, where one applies, also means the token's price won't match the underlying price one for one.

What happens if INDAON has low liquidity?

Low liquidity means a small swap can move the price of INDAON, the spread between buying and selling widens, and selling can cost more than you expect. The token's price can also sit further from the underlying asset. Liquidity on tokenized funds and commodities varies a lot between tokens and over the course of a day.

You buy INDAON by swapping SOL, USDC, or another Solana token for it in a self-custody wallet such as Solflare. The swap settles on Solana, so no brokerage account is involved. Keep a small SOL balance for network fees, and check Ondo Finance's terms first, since availability varies by jurisdiction.

Does INDAON pay dividends or distributions?

No. The asset behind INDAON doesn't pay distributions, so the token's value reflects price movement alone.

When can I trade INDAON?

You can swap INDAON on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours, the price of INDAON comes from on-chain trading alone, so spreads can widen and the price can drift from the fund's last close until the market reopens.

INDAON price today: iShares MSCI India ETF on Solana

Q: Is buying INDAON the same as buying iShares MSCI India ETF?

No. INDAON is a separate token that tracks the price of iShares MSCI India ETF. Holding it gives you the price exposure, but not shareholder rights or a direct claim on the underlying holdings. Any redemption into the underlying asset is handled by Ondo Finance for eligible clients under its own terms, not by Solflare.

Q: Who issues INDAON?

Ondo Finance issues INDAON. Ondo Finance issues its tokenized stocks and ETFs through Ondo Global Markets, which holds the underlying securities with custodians and handles minting and redemption for eligible clients. Solflare is a self-custody wallet that lets you hold and swap INDAON; it does not issue, back, or custody the token, so the backing arrangement is the issuer's.

What INDAON tracks

INDAON tracks iShares MSCI India ETF, a fund that holds stocks listed outside the United States. Its price is quoted in US dollars, so it moves with both the shares it holds and the exchange rate between the dollar and those shares' local currencies.

Many of the fund's holdings trade on exchanges in other time zones, so during US hours the fund's price partly reflects estimates of where those shares will trade next.

About iShares MSCI India ETF (Ondo Tokenized)

INDAon is the Ondo Tokenized version of the iShares MSCI India ETF, giving tokenholders economic exposure similar to holding INDA and reinvesting any dividends. Ondo tokenized stocks enable non-US retail and institutional users around the world to instantly mint and redeem tokenized U.S. stocks and ETFs, 24 hours a day, five days a week with full access to traditional exchange liquidity. Additional restrictions apply. Learn more at ondo.finance/global-markets.

Website

INDAON contract address

DBNwt3FoYCKQWdfzxKFNZ4mzuz4Jz1iRzFf7HFzondo

Ticker

INDAON

Issuer

Ondo Finance

Status

Verified

How INDAON works

INDAON is issued by Ondo Finance. Ondo Finance issues its tokenized stocks and ETFs through Ondo Global Markets, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.

What you hold is the token, not the underlying asset. INDAON tracks the price of iShares MSCI India ETF, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Ondo Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping INDAON, and it does not issue, back, or custody the token.

The price of INDAON on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.

The asset behind INDAON doesn't pay distributions, so the value of INDAON reflects price movement alone.

When can you trade INDAON?

INDAON can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of INDAON comes from on-chain trading alone and can drift from the fund's last close.

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2	iShares MSCI South Korea ETFEWYON	$140.411	3.40%	Ondo	US market hours
3	iShares MSCI EAFE ETFEFAON	$103.745	0.58%	Ondo	US market hours
4	iShares Core MSCI EAFE ETFIEFAON	$96.574	0.59%	Ondo	US market hours
5	iShares MSCI Japan ETFEWJON	$90.965	1.08%	Ondo	US market hours
6	Vanguard FTSE Europe ETFVGKX	$88.865	0.39%	Backed Finance	US market hours
7	Vanguard Total International Stock ETFVXUSX	$82.205	0.82%	Backed Finance	US market hours
8	iShares Core MSCI Emerging Markets ETFIEMGON	$73.545	1.26%	Ondo	US market hours
9	iShares Core MSCI Emerging Markets ETFIEMGX	$73.545	1.26%	Backed Finance	US market hours
10	SPDR EURO STOXX 50FEZX	$66.987	0.41%	Backed Finance	US market hours
11	iShares MSCI Emerging Markets ETFEEMON	$60.359	1.37%	Ondo	US market hours
12	iShares MSCI United KingdomEWUX	$47.925	0.09%	Backed Finance	US market hours
13	Global X DAX GermanyDAXX	$45.665	0.13%	Backed Finance	US market hours
14	iShares MSCI FranceEWQX	$43.827	0.21%	Backed Finance	US market hours
15	iShares MSCI GermanyEWGX	$42.815	0.31%	Backed Finance	US market hours
16	iShares MSCI Chile ETFECHON	$35.546	0.06%	Ondo	US market hours
17	iShares China Large-Cap ETFFXION	$33.345	0.69%	Ondo	US market hours
18	iShares MSCI Brazil ETFEWZON	$32.234	1.14%	Ondo	US market hours
19	Schwab International Equity ETFSCHFX	$26.845	0.79%	Backed Finance	US market hours
20	KraneShares CSI China Internet ETFKWEBON	$22.805	0.78%	Ondo	US market hours

Prices are volatile and can fall as well as rise. INDAON is issued by Ondo Finance and gives price exposure to iShares MSCI India ETF, not fund shares, shareholder rights, or a claim on the fund's holdings; redemption terms are set by the issuer. Liquidity can be thin, which widens spreads and can move the price on small swaps, especially outside US market hours. Availability varies by jurisdiction. Solflare is a wallet interface and does not issue, back, or custody this token. Nothing here is financial advice.

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iShares MSCI India ETF (INDAON) price

iShares MSCI India ETF price chart