In the rapidly evolving world of real-world assets (RWAs) and tokenized finance, Ondo Finance has emerged as one of the leading platforms bridging traditional markets with blockchain technology. Among its expanding suite of tokenized products, SLVon — the tokenized version of the iShares Silver Trust (SLV) — stands out as a way for crypto users to gain efficient, on-chain exposure to physical silver prices without handling the metal itself.Launched as part of Ondo’s broader tokenized equities and ETFs initiative (notably expanded to Solana in January 2026), SLVon represents a significant step in making commodity-linked investments accessible 24/7 in the decentralized finance (DeFi) ecosystem.

What Is SLVon?

SLVon is Ondo Finance’s tokenized representation of the iShares Silver Trust (SLV), one of the most popular silver-backed exchange-traded funds (ETFs) in traditional finance. The underlying SLV ETF is designed to track the spot price of silver by holding physical silver bullion in secure vaults.Key features of SLVon include:

• Economic exposure equivalent to holding SLV shares, including price appreciation tied to silver market movements.
• Reinvestment of any dividends or distributions from the underlying ETF.
• Built on blockchain rails (initially on Ethereum-compatible networks and expanded to Solana in early 2026), allowing near-instant minting, redemption, and trading.
• 24/7 availability — unlike traditional stock markets with fixed trading hours.

SLVon is not direct ownership of physical silver or SLV shares. Instead, it is a synthetic tokenized instrument that mirrors the economic performance of the underlying asset. Holders do not receive physical delivery rights or direct ETF ownership; the token provides price-tracking exposure via Ondo’s infrastructure.

How Does Ondo Tokenized Silver Work?

Ondo Finance partners with regulated custodians and uses institutional-grade infrastructure to back its tokenized products. For SLVon:

1. Backing: Ondo holds positions in the actual iShares Silver Trust (SLV) or equivalent instruments.
2. Tokenization: SLVon tokens are minted to represent proportional claims on that exposure.
3. Mint & Redeem: Eligible users (often non-US retail and institutional participants) can mint SLVon by depositing stablecoins or other approved assets, and redeem them back into crypto.
4. Trading: SLVon trades on decentralized exchanges (DEXs) and other on-chain venues, offering global, round-the-clock liquidity.
5. Transparency: Real-time price charts, statistics, and underlying asset data are available directly on the Ondo platform (app.ondo.finance).

This structure allows investors to hold silver exposure in a wallet alongside other crypto assets, without needing brokerage accounts, KYC for traditional exchanges (in some jurisdictions), or physical storage concerns.

Why Tokenize Silver? Key Benefits

Silver has long been viewed as both a precious metal and an industrial commodity, with demand driven by jewelry, electronics, solar panels, and investment. Tokenization via SLVon offers several advantages:

• 24/7 Access — Trade silver exposure anytime, aligning with crypto market hours rather than traditional 9:30 AM–4:00 PM stock sessions.
• Fractional Ownership — Lower barriers to entry compared to buying physical bars or full ETF shares.
• Portfolio Diversification — Easily add commodity exposure to a crypto-heavy portfolio.
• DeFi Composability — Use SLVon as collateral in lending protocols, DEX liquidity pools, or yield strategies (where supported).
• Global Reach — Particularly useful for users outside the U.S. who face restrictions or friction accessing SLV directly.

As of mid-2026, Ondo’s tokenized stocks and ETFs category (including SLVon and similar products like gold-linked tokens) has seen significant adoption, with the platform’s tokenized equities TVL surpassing hundreds of millions of dollars.

Market Performance and Availability (as of January 2026)

SLVon tracks silver prices closely, fluctuating with global silver spot markets. Recent data shows:

• Token price hovering around $98–$101 (closely mirroring SLV share performance).
• 24-hour trading volumes frequently in the millions of USD, indicating healthy liquidity for an RWA product.
• Listed on trackers like CoinMarketCap, CoinGecko, and RWA.xyz for real-time monitoring.

The product is accessible via Ondo’s Global Markets platform, with primary interaction through app.ondo.finance/assets/slvon. It forms part of Ondo’s suite of over 200 tokenized U.S. stocks and ETFs now live on Solana, dramatically expanding reach within one of crypto’s most active ecosystems.

The Bigger Picture: Ondo Finance and the RWA Revolution

Ondo Finance has positioned itself as a leader in the tokenized asset space, with flagship products like OUSG (tokenized short-term U.S. Treasuries) and a growing menu of equities, ETFs, and commodity trackers. The expansion to Solana in 2026 brought hundreds of tokenized securities on-chain, challenging other platforms and capturing substantial market share in tokenized stocks.SLVon exemplifies how RWAs are maturing: combining the stability and familiarity of traditional commodities with blockchain’s speed, transparency, and global accessibility.Whether you're a crypto-native investor seeking diversification or a traditional finance participant exploring on-chain opportunities, Ondo’s tokenized silver (SLVon) offers a compelling bridge between silver markets and decentralized finance.

For the latest pricing, charts, and mint/redeem details, visit the official Ondo platform: app.ondo.finance/assets/slvon.

Note: Tokenized products involve risks including smart contract vulnerabilities, regulatory changes, and market volatility. Always conduct your own research and consider eligibility requirements.