IWFON is a token on Solana that tracks the price of iShares Russell 1000 Growth 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 IWFON in a self-custody wallet such as Solflare.

Why can the price of IWFON differ from iShares Russell 1000 Growth ETF?

The price of IWFON 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 IWFON has low liquidity?

Low liquidity means a small swap can move the price of IWFON, 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 IWFON 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 IWFON pay dividends or distributions?

Not as separate payments. When the underlying fund pays a distribution, Ondo Finance folds it into the token's scaling factor, so each IWFON represents slightly more of the fund over time while the number of tokens in your wallet stays the same.

When can I trade IWFON?

You can swap IWFON on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours, the price of IWFON 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.

IWFON price today: iShares Russell 1000 Growth ETF on Solana

Q: Is buying IWFON the same as buying iShares Russell 1000 Growth ETF?

No. IWFON is a separate token that tracks the price of iShares Russell 1000 Growth 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 IWFON?

Ondo Finance issues IWFON. 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 IWFON; it does not issue, back, or custody the token, so the backing arrangement is the issuer's.

What IWFON tracks

IWFON tracks iShares Russell 1000 Growth ETF, an index fund that holds a broad basket of stocks according to its index rules. Its price follows the fund's share price, which moves with the combined value of the companies in the index.

Because an index fund spreads its holdings across many companies, trouble at any single company has a limited effect on it. The fund still falls when the broad market falls.

About iShares Russell 1000 Growth ETF (Ondo Tokenized)

IWFon is the Ondo Tokenized version of the iShares Russell 1000 Growth ETF, giving tokenholders economic exposure similar to holding IWF 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

IWFON contract address

dSHPFuMMjZqt7xDYGWrexXTSkdEZAiZngqymQF2ondo

Ticker

IWFON

Issuer

Ondo Finance

Status

Verified

How IWFON works

IWFON 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. IWFON tracks the price of iShares Russell 1000 Growth 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 IWFON, and it does not issue, back, or custody the token.

The price of IWFON 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.

When the underlying fund pays a distribution, Ondo Finance folds it into the token instead of paying it out, so each IWFON comes to represent slightly more of the fund over time while the number of tokens in your wallet stays the same.

When can you trade IWFON?

IWFON 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 IWFON comes from on-chain trading alone and can drift from the fund's last close.

The scaling factor for IWFON

The scaling factor for IWFON is 4.0129, and it combines two adjustments. Each token was set at 1/4 of a share of the underlying fund, and distributions folded in since then have moved the factor further. Use the factor, not the token price alone, when comparing IWFON with the fund.

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18	Franklin US Large Cap Multifactor Index ETFFLQLON	$75.571	1.82%	Ondo	US market hours
19	iShares Core S&P Mid-Cap ETFIJHON	$73.404	1.34%	Ondo	US market hours
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Prices are volatile and can fall as well as rise. IWFON is issued by Ondo Finance and gives price exposure to iShares Russell 1000 Growth 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 Russell 1000 Growth ETF (IWFON) price

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