iShares China Large-Cap Tokenized ETF (Ondo) PriceFXION

What is iShares China Large-Cap Tokenized ETF (Ondo) (FXION)?

iShares China Large-Cap Tokenized ETF (Ondo) (FXION) is a tokenized real-world asset (RWA) product issued through Ondo Finance that provides tokenholders with economic exposure similar to holding the iShares China Large-Cap ETF (FXI). The underlying FXI is a US-listed exchange-traded fund that seeks to track an index composed of large-cap Chinese equities listed on the Hong Kong Stock Exchange, aiming to deliver the performance of the FTSE China 50 Index before fees and expenses. By tokenizing this exposure, FXION allows investors to access tokenized equities with minting and redemption available 24 hours a day, five days a week on the Ondo platform.

Technically, FXION operates on the Solana platform and is also deployed as an ERC-20 token on Ethereum and BNB Chain. The Ethereum contract is a BeaconProxy upgradeable proxy pattern with 18 decimals, verified source code, and an enabled optimizer running 200 runs under the London EVM version. The token incorporates a UI Multiplier mechanism, meaning displayed token amounts are scaled by an active multiplier based on the UIMultiplierUpdated event, which reflects a dynamic supply structure. The tokenized product's inception date is 07/31/2025 (per RWA.xyz); it was listed on CoinMarketCap on 2026-03-24.

Key Specifications & Tokenomics

• Name: iShares China Large-Cap Tokenized ETF (Ondo)
• Ticker / Symbol: FXION; also written as FXIon
• Asset Type: Tokenized ETF / tokenized stock (real-world asset, RWA)
• Underlying Asset: iShares China Large-Cap ETF (FXI), tracking large-cap Chinese equities listed on the Hong Kong Stock Exchange and the FTSE China 50 Index
• Networks: BNB Chain (ERC-20), Ethereum (ERC-20), Solana (token-2022)
• Ethereum Contract Address: 0x2dD57b497c777D9825A5902114BE81dF98eDE958
• Contract Name: BeaconProxy
• Token Decimals: 18
• Compiler Version: v0.8.16+commit.07a7930e
• Optimization: Enabled, Yes with 200 runs
• Other Settings: london EvmVersion
• CoinMarketCap ID: 39758
• Underlying Fund ISIN (USD Share Class): US4642871846
• Max Supply: None (uncapped); total supply equals circulating supply at 78,884 FXIon
• Circulating Supply: 78,884 FXIon
• Auditor: BPM UK Audit Ltd
• Official Website: https://app.ondo.finance/assets/fxion
• Ondo Finance Website: https://ondo.finance/
• Twitter / X: https://twitter.com/ondofinance

Who created iShares China Large-Cap Tokenized ETF (Ondo)?

FXIon is issued by Ondo Global Markets (BVI) Limited, domiciled in the British Virgin Islands, and distributed through the Ondo platform. FXIon is issued under a U.S. Securities Act Reg. S exemption, is domiciled in the British Virgin Islands, and is available only to non-U.S. investors. Ondo Finance maintains an official website at ondo.finance and an active presence on X (Twitter) at twitter.com/ondofinance, along with documentation, a blog, GitHub, and Telegram channels referenced through its token page. The token is part of Ondo's broader tokenized equities offering, which brings traditional ETF exposure on-chain. FXIon is issued by Ondo Global Markets (BVI) Limited. Service providers include Alpaca Securities LLC (traditional broker, transfer agent, custodian), BitGo (crypto custodian), and BPM UK Audit Ltd (auditor).

How does iShares China Large-Cap Tokenized ETF (Ondo) work?

FXION functions as a tokenized wrapper that delivers economic exposure similar to holding the iShares China Large-Cap ETF (FXI). The underlying FXI seeks to track an index composed of large-cap Chinese equities listed on the Hong Kong Stock Exchange, aiming to provide the performance of the FTSE China 50 Index before fees and expenses. According to the RWA.xyz description, tokenholders gain economic exposure similar to holding FXI, with any dividends or distributions reinvested. The product enables minting and redemption of tokenized equities 24 hours a day, five days a week and is traded on the Ondo platform.

On the technical side, the Ethereum deployment uses a BeaconProxy upgradeable contract pattern with a proxy implementation address and a "Read as Proxy / Write as Proxy" interface on Etherscan. The contract includes a UI Multiplier mechanism, where displayed token amounts are scaled by the active multiplier based on the UIMultiplierUpdated event, indicating a dynamic or rebasing-style supply. The token also operates on the Solana platform and BNB Chain. The underlying fund's portfolio is concentrated, with the top 10 holdings representing 57.5% of assets (Morningstar portfolio date Oct 7, 2026), including China Construction Bank Corp Class H at 9.11%, Tencent Holdings Ltd at 9.06%, and Alibaba Group Holding Ltd Ordinary Shares at 9.05%.

What makes iShares China Large-Cap Tokenized ETF (Ondo) unique and valuable?

FXION's primary distinction lies in combining traditional Chinese large-cap equity exposure with blockchain-based accessibility. The underlying FXI provides exposure to the largest 50 Chinese stocks listed in Hong Kong, a portfolio that Morningstar describes as "a narrow subset of the China equity opportunity set with a 50-stock portfolio" and "a fraction of the available opportunity set in Chinese equities." Through tokenization, this exposure becomes accessible 24 hours a day, five days a week on the Ondo platform, with minting and redemption available rather than being limited to traditional market hours.

The token's multi-chain presence on BNB Chain, Solana, and Ethereum broadens accessibility for different user bases. The underlying fund's portfolio includes major Chinese companies across financial services, consumer cyclical, communication services, and technology sectors, such as China Construction Bank, Alibaba, Tencent, Industrial and Commercial Bank of China, Xiaomi, Meituan, Bank of China, Ping An Insurance, NetEase, and BYD. The underlying fund distributes dividends, which are reinvested per the RWA.xyz description, providing income characteristics alongside equity exposure. The tokenized structure also enables fractional ownership and integration with decentralized finance infrastructure.

What is iShares China Large-Cap Tokenized ETF (Ondo) used for?

FXION is used primarily to gain tokenized economic exposure to the iShares China Large-Cap ETF (FXI) and, by extension, to large-cap Chinese equities listed on the Hong Kong Stock Exchange. Tokenholders receive economic exposure similar to holding FXI, with any dividends or distributions reinvested according to the RWA.xyz description. The token enables minting and redemption of tokenized equities 24 hours a day, five days a week through the Ondo platform, allowing investors to buy, sell, and hold exposure outside traditional market hours.

FXIon can be minted and redeemed instantly on the Ondo platform using USDC as the base asset, with 0% subscription and redemption fees. It serves as a vehicle for portfolio diversification into Chinese large-cap equities within a crypto-native format, and it can be held in compatible wallets on BNB Chain, Solana, and Ethereum. The underlying fund's objective of tracking the FTSE China 50 Index makes FXION a tool for expressing views on the largest Chinese companies listed in Hong Kong, including sector leaders in banking, technology, consumer, and insurance.

How Is the iShares China Large-Cap Tokenized ETF (Ondo) ecosystem developing?

The FXION ecosystem is developing within Ondo Finance's tokenized equities offering, which the platform describes as providing minting and redemption of tokenized equities 24 hours a day, five days a week. The token is referenced across multiple data and trading platforms, including CoinMarketCap, CoinGecko, Messari, MetaMask, CryptoRank, Weiss Ratings, Etherscan, and Yahoo Finance, and is available on major exchanges. According to CoinMarketCap, FXIon trades on 69 active markets (as of 2026-10-23).

The token is part of a broader set of related iShares products referenced in materials, including the US-listed iShares China Large-Cap ETF (FXI), the Swiss professionals page version, and the European-domiciled iShares China Large Cap UCITS ETF (FXAC and FXC). Ondo Finance maintains social and documentation channels including X (Twitter), GitHub, Telegram, and a blog. Market infrastructure around the token continues to expand, with multiple price feeds and analytics pages tracking its performance, supply, and holder metrics. Holders: 115,715 as of 10/09/2026 (per RWA.xyz).

How to mine iShares China Large-Cap Tokenized ETF (Ondo)?

FXION is not a mineable cryptocurrency. It is a tokenized real-world asset representing economic exposure to the iShares China Large-Cap ETF (FXI), and as such it does not use a proof-of-work mining mechanism. There is no mining process, no block reward, and no hash-based consensus associated with acquiring FXION. Instead, the token is issued and accessed through Ondo Finance's platform and can be bought, sold, or held using compatible wallets on BNB Chain, Solana, and Ethereum.

Acquisition is done by minting the token on the Ondo platform using USDC as the base asset, with 0% subscription and redemption fees. The token's supply dynamics are reflected through the UI Multiplier mechanism on Ethereum, where displayed token amounts are scaled by the active multiplier based on the UIMultiplierUpdated event, rather than through mining emissions. Staking or yield-generating mechanisms specific to FXION are not described in the available materials, and the underlying fund's income characteristics come from the ETF's dividend distributions, which are reinvested according to the RWA.xyz description.

How to keep your iShares China Large-Cap Tokenized ETF (Ondo) safe?

Keeping FXION safe begins with using compatible wallets that support the networks on which the token operates: BNB Chain (ERC-20), Solana, and Ethereum (ERC-20). Because the Ethereum contract is an upgradeable BeaconProxy, users should be aware of the additional trust assumptions associated with proxy-based contracts and the UI Multiplier mechanism, which scales displayed token amounts based on the active multiplier. Etherscan lists the token reputation as Neutral.

Best practices include verifying the official contract address 0x2dD57b497c777D9825A5902114BE81dF98eDE958 when interacting with the token, avoiding unknown links or unsolicited offers, and using hardware wallets for significant holdings where supported. Investors should also review Ondo Finance's official documentation and channels for updates. As with all crypto-assets, investing carries significant market risk, including extreme volatility and the potential loss of entire capital. Investors must independently assess their financial capacity and are encouraged to consult professional advisors.