IWFON: Ondo’s Tokenized Russell 1000 Growth ETF

IWFON is Ondo’s tokenized version of the iShares Russell 1000 Growth ETF (IWF). Its stated aim is to give tokenholders economic exposure similar to holding IWF, including reinvestment of any dividends. The underlying ETF tracks U.S. large- and mid-cap growth stocks, so IWFON’s value can reflect movements in those companies and in the ETF.

IWFON is not the same thing as a conventional brokerage-held ETF share. Holding the token should not be assumed to give you direct ownership of IWF shares, voting rights, or the same protections as an ETF shareholder. The exact rights and arrangements depend on Ondo’s current terms and any restrictions that apply. Read those terms before acquiring or redeeming the token.

The token is intended to provide eligible users with on-chain access to economic exposure linked to IWF. Ondo describes its tokenized stocks and ETFs as available for minting and redemption around the clock, five days a week, with access to traditional exchange liquidity. This does not mean the underlying U.S. ETF market trades continuously: its hours, holidays, and liquidity can affect pricing and redemption.

Access is subject to additional restrictions, and eligibility may depend on where you live and other conditions. The token’s price can differ from the value of the underlying ETF, especially when markets are closed or trading is thin. Before using IWFON, check the issuer’s current availability, minting, redemption, and fee terms. Do not assume that every exchange or wallet supports these functions.

IWFON is issued on Ethereum, Solana, and BNB Chain. It is not listed as the native token of any of these networks; it is an asset represented on them. Use a wallet and network that support the specific version you hold, and verify the token details through reliable issuer information before transferring funds. A token on one chain cannot automatically be sent to an address on another.

As of 2026-11-05, reported circulating and total supply were both about 18,974.19 IWFON; no maximum supply was reported. The reported price was about $470.39 and market capitalization about $8.9 million on that date. Reported 24-hour trading volume was about $17, which is a small figure and may indicate limited trading activity. These values change, and supply figures do not show how tokens are distributed among chains.

IWFON carries the market risks of the growth stocks represented by IWF, as well as risks specific to tokenized assets. Its price may not track the ETF precisely, and thin trading can widen the gap between quoted prices and the value of the underlying exposure. The reported trading volume was low as of 2026-11-05, so it may be difficult to trade a desired amount at a particular price.

There are also issuer, custody, legal, regulatory, and redemption risks. Eligibility rules or product terms may change, and access can be restricted in some places. A blockchain transaction may be irreversible, and using the wrong network or address can result in lost tokens. Dividends are described as reinvested, but tokenholders should check the issuer’s terms for how that process works and what rights they receive. IWFON is not a bank deposit, and its value is not guaranteed.

IWFON can be held in a wallet that supports the relevant chain and token format. Ethereum and BNB Chain use EVM-compatible wallets, while Solana requires Solana support; a wallet supporting one network may not support the others. Hardware wallets may offer an additional way to protect keys, but confirm that the device and wallet software support the specific chain and token before transferring anything.

Keep your recovery phrase and private keys offline and private. Never share them with someone claiming they need them to help with a transfer or redemption. Check the destination network and address carefully, and consider a small test transfer where appropriate. If you lose access to your keys, you may lose access to the tokens. Wallet custody also does not remove the issuer, market, or redemption risks associated with IWFON.