What is the current price of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF)?
The current price of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) is $99.00 with a 0.72% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
IEFAon is not a blockchain project. It is a tokenized wrapper: a token issued on Ethereum, BNB Chain, and Solana designed to give its holder the economic performance of the iShares Core MSCI EAFE ETF, the BlackRock fund that trades under the ticker IEFA, with dividends reinvested.
There is no protocol here, no consensus mechanism, no staking, no governance, no founding team, and no whitepaper. What exists instead is a legal and operational structure: a special purpose issuer holds real IEFA shares through a regulated US custodial broker-dealer and issues a token that is a debt claim referencing those shares. Everything meaningful about IEFAon is in that structure.
Official sources:
The issuer is Ondo Global Markets (BVI) Limited, a special purpose vehicle organized in the British Virgin Islands. Per Ondo's documentation it is 90.01% owned by Flux Finance Inc., itself a wholly owned subsidiary of the Ondo Foundation, and 9.99% owned by Ondo Finance Inc., which acts as technology and administrative service provider and is legally separate from the issuer. The issuer has its own board including at least one independent director and segregated books, which is what the structure relies on to stay bankruptcy-remote if Ondo Finance were to fail.
IEFAon is one asset in Ondo's tokenized stocks and ETFs program, which launched with daily attestations available from October 1, 2025 and has grown past a hundred referenced securities. The naming convention is mechanical: the underlying ticker plus an "on" suffix.
Nothing in Ondo's documentation describes BlackRock or iShares as a party to the token. The wrapper is Ondo's product referencing that fund, not a product of the fund's sponsor.
IEFA is the iShares Core MSCI EAFE ETF, managed by BlackRock. It tracks the MSCI EAFE IMI Index on a net return basis, covering large, mid, and small capitalization equities in developed markets outside the United States and Canada: Japan, the United Kingdom, continental Europe, Australia, and others, across several thousand holdings. The fund was incepted on October 18, 2012, is listed on Cboe BZX, publishes an expense ratio of 0.07%, and distributes dividends semi-annually. It is a standard low-cost vehicle for broad developed international equity exposure, which is exactly why it is a sensible thing to wrap.
Backing Every IEFAon is backed one for one by underlying IEFA shares, together with cash in transit, held through a regulated US custodial broker-dealer. The issuer must also maintain collateral above that full backing at all times, so the position is meant to be overcollateralized rather than merely matched.
Minting and redemption A KYC-onboarded, eligible user mints IEFAon by paying USDon, Ondo's stablecoin, and the token arrives in a single atomic transaction. USDC can be swapped one for one into USDon in the same transaction through a stablecoin swapper, subject to that swapper holding inventory, and redemption runs in reverse. The minimum is one dollar, fractional amounts are allowed, and there is no explicit mint or burn fee: instead the quoted price may sit slightly inside the price at which Ondo transacts in the underlying, and that difference is retained.
Pricing as a total return tracker IEFAon does not represent one share of IEFA. When the fund pays a distribution, the issuer receives it net of withholding tax and reinvests it into more shares, and the shares-per-token figure rises. Over time one token comes to represent more than one share, so the token's price and the fund's price diverge by design. On Solana and BNB Chain, wallets integrating the Scaled UI standard present the adjusted balance instead of the adjusted price, a display difference only.
Trading availability The platform is generally open from about 8:05pm ET Sunday through 7:59pm ET Friday, spanning the pre-market, core, post-market, and overnight sessions, the last of which runs on the Blue Ocean alternative trading system. Short pauses occur around session boundaries and ex-dividend dates. Because ETF distribution amounts are often finalized only a day or two before the ex-date, the platform holds trading until the exact figure is known.
A contract read tells you more about a wrapper than a marketing page does. On Ethereum, IEFAon lives at a beacon proxy whose implementation is a contract named GMToken. Reading it directly shows:
The tokens are otherwise standard ERC-20 assets, transferable outside the United States, holdable by wallets and smart contracts, and usable in decentralized finance protocols that support them, for example as collateral.
The design choice that separates Ondo's tokenized securities from earlier attempts is friction at the primary market. Most tokenized stock experiments recreated liquidity on-chain in thin order books, with slow or costly minting and redemption. That blocks arbitrage, and without arbitrage the token price drifts away from the underlying and stays there. Ondo's answer is instant, atomic, fee-free minting and redemption at a quote derived from the underlying market, which gives arbitrageurs a cheap way to close any gap. The tradeoff is that this only works while the primary market is open and the issuer is functioning, which is why trading hours, halts, and issuer risk matter more here than for a purely on-chain asset.
Security here is legal and operational rather than cryptographic. The issuer is a bankruptcy-remote special purpose vehicle with an independent director and segregated books, and the underlying shares sit with a regulated US custodial broker-dealer. Ankura Trust Company verifies holdings daily as an independent third party and holds a first-priority perfected security interest in the collateral, with power to seize and liquidate it for tokenholders if the issuer defaults, for example by failing to service redemptions or to maintain full backing. Daily holdings and net asset value reports are published and independently reviewed, monthly reconciliations are published by the 20th of the following month, and annual audits are conducted by an independent firm. The Ondo Foundation has additionally guaranteed funds through Flux Finance as further collateral.
On the technical side, the smart contracts have been audited by Spearbit and Cyfrin, and transfer-level compliance screening and pause capability are built into the token itself.
Tokenized Treasuries proved that regulated assets could live on-chain. Broad equity index exposure is the harder next step, because it involves corporate actions, dividends, withholding tax, and market hours. IEFAon is a well-documented example of how that is currently being solved: a bankruptcy-remote issuer, a third-party security agent with a real security interest, daily attestation, frictionless primary market access to enable arbitrage, and compliance enforced in the token contract itself.
It is also a reminder that a tokenized fund is a wrapper with its own counterparty, legal, tax, and administrative characteristics. The exposure resembles the fund; the instrument does not.
Eligible, KYC-onboarded non-US users can mint and redeem IEFAon directly on the Ondo Stocks platform. Ondo describes direct onboarding as open to institutional participants, with retail onboarding described as coming. Secondary market availability, where it exists, is through venues and decentralized liquidity that choose to support the asset, and the issuer makes no guarantee that any secondary market exists or persists. Anyone acquiring the token that way should read Ondo's secondary market restrictions first, because redemption still requires passing the issuer's customer due diligence.
IEFAon is an ERC-20 asset on Ethereum and BNB Chain, an SPL token on Solana, and can be bridged to HyperEVM. It can be held:
Most centralized exchange custodial accounts do not support these tokens. Verify the contract address for the specific chain against Ondo's own documentation before transferring.
Compare IEFAon with related tokenized asset projects on Coinrithm:
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Read the complete paper trading guideThe current price of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) is $99.00 with a 0.72% change in the last 24 hours.
The daily trading volume is $23,554.36 representing a 7.77% change in the past 24 hours.
The market capitalization of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) is $16,866,142, ranking #569 globally.
The fully diluted valuation (FDV) of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) is $16,863,603, calculated assuming the total supply of 170,339 IEFAON is in circulation.
Circulating: 170,339. Total: 170,339. Max: N/A.
In the last 24 hours, iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) traded between a low of $97.32 and a high of $99.00.
IEFAON/USDTTether USDT99.00 USDT
