IWNON is a token on Solana that tracks the price of iShares Russell 2000 Value 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 IWNON in a self-custody wallet such as Solflare.

Why can the price of IWNON differ from iShares Russell 2000 Value ETF?

The price of IWNON 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 IWNON has low liquidity?

Low liquidity means a small swap can move the price of IWNON, 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 IWNON 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 IWNON 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 IWNON represents slightly more of the fund over time while the number of tokens in your wallet stays the same.

When can I trade IWNON?

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

IWNON price today: iShares Russell 2000 Value ETF on Solana

Q: Is buying IWNON the same as buying iShares Russell 2000 Value ETF?

No. IWNON is a separate token that tracks the price of iShares Russell 2000 Value 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 IWNON?

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

What IWNON tracks

IWNON tracks iShares Russell 2000 Value 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 2000 Value ETF (Ondo Tokenized)

IWNon is the Ondo Tokenized version of the iShares Russell 2000 Value ETF, giving tokenholders economic exposure similar to holding IWN 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

IWNON contract address

DX7g7WNjDpVzNK9CG81v7wb6ZbiNzYfkdzH2Xs5ondo

Ticker

IWNON

Issuer

Ondo Finance

Status

Verified

How IWNON works

IWNON 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. IWNON tracks the price of iShares Russell 2000 Value 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 IWNON, and it does not issue, back, or custody the token.

The price of IWNON 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 IWNON 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 IWNON?

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

The scaling factor for IWNON

The scaling factor for IWNON is 1.0146. It rises as the underlying fund's distributions are folded into the token, so each token represents slightly more of the fund over time while your token count stays the same. Read the factor as accumulated distributions, not as a price change.

Related markets

More in Index Funds

Rank				Tokenized by	Trading hours
1	iShares Core S&P 500 ETFIVVON	$753.20	1.51%	Ondo	US market hours
2	SPDR S&P 500 ETF TrustSPYX	$749.86	1.51%	Backed Finance	US market hours
3	SPDR S&P 500 ETF TrustSPYON	$749.86	1.51%	Ondo	US market hours
4	Vanguard S&P 500VOOX	$689.27	1.52%	Backed Finance	US market hours
5	Invesco QQQ TrustQQQX	$674.90	2.44%	Backed Finance	US market hours
6	Invesco QQQ TrustQQQON	$674.90	2.44%	Ondo	US market hours
7	Vanguard Total Stock Market ETFVTION	$369.058	1.54%	Ondo	US market hours
8	Vanguard Total Stock Market ETFVTIX	$369.058	1.54%	Backed Finance	US market hours
9	iShares Russell 2000 ETFIWMX	$276.119	1.74%	Backed Finance	US market hours
10	iShares Russell 2000 ETFIWMON	$276.119	1.74%	Ondo	US market hours
11	Vanguard Value ETFVTVON	$228.422	0.83%	Ondo	US market hours
12	iShares Core S&P Total US Stock Market ETFITOTON	$163.611	1.53%	Ondo	US market hours
13	Vanguard Total World Stock ETFVTX	$154.469	1.29%	Backed Finance	US market hours
14	iShares Core S&P Small-Cap ETFIJRX	$140.053	1.25%	Backed Finance	US market hours
15	iShares Russell 1000 Growth ETFIWFON	$114.017	2.33%	Ondo	US market hours
16	WisdomTree US Quality Dividend Growth FundDGRWON	$97.724	1.17%	Ondo	US market hours
17	Vanguard Growth ETFVUGX	$83.705	2.10%	Backed Finance	US market hours
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
20	Franklin U.S. Equity IndexUSPXX	$65.53	1.49%	Backed Finance	US market hours
21	Franklin U.S. Mid Cap Multi-FactorFLQMX	$62.724	0.35%	Backed Finance	US market hours
22	Franklin Focused Growth ETFFFOGON	$45.515	2.40%	Ondo	US market hours
23	Franklin Small Cap EnhancedFSMLX	$28.606	1.46%	Backed Finance	US market hours

Prices are volatile and can fall as well as rise. IWNON is issued by Ondo Finance and gives price exposure to iShares Russell 2000 Value 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.

Learn

iShares Russell 2000 Value ETF (IWNON) price

iShares Russell 2000 Value ETF price chart