What ITAX tracks
ITAX tracks iShares U.S. Aerospace & Defense ETF, a fund that holds companies from one industry or theme. Its price follows the fund's share price, which moves with the fortunes of that sector.
Because the fund's holdings share the same industry risks, it tends to swing more than a broad index fund and can lead or lag the wider market for long stretches.
About iShares US Aerospace & Defense
iShares US Aerospace & Defense (ITAX) is issued by xStocks and trades on the Solana blockchain. iShares US Aerospace & Defense is verified on Solana's token registry. The price, 24-hour volume and liquidity shown here update live from trading on Solana DEXes.
ITAX contract address
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How ITAX works
ITAX is issued by Backed Finance. Backed Finance issues xStocks through Backed Assets (JE) Limited, 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. ITAX tracks the price of iShares U.S. Aerospace & Defense ETF, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Backed Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping ITAX, and it does not issue, back, or custody the token.
The price of ITAX 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 ITAX doesn't pay distributions, so the value of ITAX reflects price movement alone.
When can you trade ITAX?
ITAX 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 ITAX comes from on-chain trading alone and can drift from the fund's last close.
Related markets
Other tokens tracking iShares U.S. Aerospace & Defense ETF
| Rank | Tokenized by | Trading hours | Buy | |||
|---|---|---|---|---|---|---|
| 1 | iShares U.S. Aerospace & Defense ETF | $71.055 | 1.99% | Ondo | US market hours |