What is the current price of iShares Silver Trust (Ondo Tokenized Stock)?
The current price of iShares Silver Trust (Ondo Tokenized Stock) is $52.29 with a 1.26% 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.
SLVON is a tokenized wrapper around the iShares Silver Trust, the BlackRock-sponsored exchange-traded product that holds physical silver bullion. It is not a blockchain project, not a protocol, and not a fund of its own. It is a transferable token issued against real shares of an existing US-listed product, so that people outside the United States can hold silver exposure on chain.
The token is issued by Ondo Global Markets (BVI) Limited as part of the Ondo Stocks platform, which uses an on suffix for every tokenized asset. On chain the token reports its name as "iShares Silver Trust (Ondo Tokenized)" and its symbol as SLVon, verified by reading the Ethereum contract 0xf3e4872e6a4cf365888d93b6146a2baa7348f1a4 directly. It has 18 decimals.
Official sources:
There are two separate entities to keep straight.
The underlying product is the iShares Silver Trust, which began trading on April 21, 2006. Its sponsor is iShares Delaware Trust Sponsor LLC, an indirect subsidiary of BlackRock; The Bank of New York Mellon is trustee; and JPMorgan Chase Bank N.A., London branch, is custodian for the silver bullion held in London. The trust is not registered as an investment company under the US Investment Company Act of 1940 and is not a commodity pool under the Commodity Exchange Act. Its sponsor's fee of 0.50 percent per year is paid by selling silver, which is why the silver behind each share slowly declines. The trust pays no dividends.
The token issuer is Ondo Global Markets (BVI) Limited, a bankruptcy-remote special purpose vehicle organized in the British Virgin Islands with its own board including an independent director. Ondo Finance, Inc. is the technology and service provider and is legally separate from the issuer. There is no founding team, whitepaper, or protocol roadmap attached to SLVON itself, because SLVON is a financial wrapper rather than a software project.
Each SLVON token is a structured note, meaning a debt instrument issued by Ondo Global Markets (BVI) Limited whose payout tracks the value of the underlying iShares Silver Trust shares. Tokenholder rights are governed by Swiss law under the issuer's sales terms.
Eligible, onboarded users mint SLVON by paying stablecoins on the Ondo Stocks platform, and the issuer buys the corresponding shares through a regulated US custodial broker-dealer. Redemption reverses that process. Minting and redemption settle in a single atomic transaction, fractional amounts are allowed, and Ondo states there are no mint or burn fees.
Supply is therefore elastic: SLVON is created on demand against newly acquired shares and destroyed on redemption, so there is no maximum supply and no fixed issuance schedule.
Two design details matter for anyone reading a SLVON balance:
It is a total return tracker Where the underlying pays distributions, those are reinvested into the referenced asset net of withholding tax rather than paid out. One token does not necessarily represent one share, and the token quote and the underlying quote drift apart over time by design.
Display differs by chain On Solana and BNB Chain, wallets that support Scaled UI show balances and quotes closer to the underlying units. Wallets without that support show the Ethereum-style total-return presentation. The economic exposure is identical either way.
Minting and redemption run on a 24/5 schedule, from Sunday evening through Friday evening US Eastern time, with a separate off-hours session enabled for a selected set of assets over weekends and US market holidays. Trading can be paused around ex-dividend dates, corporate actions, and platform risk limits.
SLVON is a holding instrument, not a governance or fee token. It provides on-chain exposure to the iShares Silver Trust without a brokerage account, transfers freely between self-custody wallets outside the United States, can serve as collateral or trading inventory in venues that support it, and is redeemable for stablecoins by onboarded, eligible holders. It confers no staking rewards, no voting rights in any protocol, and no shareholder rights in the underlying trust.
Most on-chain metals exposure comes from tokens that hold bullion directly and are redeemable for physical bars. SLVON takes a different route: it wraps an existing, deeply traded exchange-listed product instead of building a separate vault program, so the reference is a widely quoted security rather than a bespoke bullion arrangement. Ondo also designed the mint and redeem path to tap traditional market liquidity at the moment of the trade rather than to depend on a pre-funded on-chain pool.
Security here is legal and operational as much as cryptographic. The issuer is bankruptcy remote, with assets and books segregated from Ondo Finance and the Ondo Foundation group, and Ankura Trust Company holds a first-priority perfected security interest in the collateral. In defined events of issuer default, such as an inability to service redemptions or to maintain full backing, the requisite tokenholders can direct the security agent to take possession of the collateral, convert it to cash, and distribute the proceeds.
Ondo publishes daily attestations of holdings reviewed by Ankura Trust, monthly reconciliation reports, and annual financial audits by an independent firm. The tokenized stock contracts have been audited by Spearbit and Cyfrin, and the tokens settle on Ethereum, BNB Chain, and Solana, inheriting those networks' consensus security.
SLVON is a concrete example of how tokenization is actually reaching non-crypto assets: not by inventing a new commodity vehicle, but by wrapping an existing regulated product in a legal structure on-chain holders can rely on. The details that matter are unglamorous ones, namely who holds the shares, who holds the security interest, who can redeem, and who is excluded. Reading those details is the difference between understanding SLVON and mistaking it for a fund share.
Primary issuance happens on the Ondo Stocks platform and is limited to onboarded, eligible non-US users. Once issued, the token transfers freely on chain and can appear on secondary venues, where a buyer does not need to be onboarded with the issuer but is still subject to the eligibility rules above.
Ondo names centralized venues including Binance, Gate, MEXC, and KuCoin among the platforms supporting Ondo Stocks tokens, alongside decentralized venues such as Uniswap and PancakeSwap. Coverage differs asset by asset and jurisdiction by jurisdiction, and US-facing platforms do not offer these tokens. Check the official asset page for the venues currently supporting SLVON.
SLVON can be held:
Confirm the correct chain and token address before any deposit, withdrawal, or approval, since the token is deployed at a different address on each network.
You can compare SLVON with related assets on Coinrithm:
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Read the complete paper trading guideThe current price of iShares Silver Trust (Ondo Tokenized Stock) is $52.29 with a 1.26% change in the last 24 hours.
The daily trading volume is $164,429 representing a 153.65% change in the past 24 hours.
The market capitalization of iShares Silver Trust (Ondo Tokenized Stock) is $24,389,907, ranking #486 globally.
The fully diluted valuation (FDV) of iShares Silver Trust (Ondo Tokenized Stock) is $24,392,622, calculated assuming the total supply of 466,487 SLVON is in circulation.
Circulating: 466,435. Total: 466,487. Max: N/A.
In the last 24 hours, iShares Silver Trust (Ondo Tokenized Stock) traded between a low of $51.12 and a high of $52.66.
SLVON/USDTTether USDT52.29 USDT
