ONDO Finance’s FXIon reaches 59K holders across blockchains

Ondo Finance’s tokenized version of the iShares China Large-Cap ETF has crossed 59,000 holders spread across Ethereum, BNB Chain, and Solana. For a token with an on-chain market cap of roughly $290K, that’s an eyebrow-raising ratio of wallets to actual capital deployed. FXIon, which trades at around $35-$36 per token with a circulating supply of approximately 8,000 tokens, represents Ondo’s push to bring traditional equity exposure on-chain for non-US investors. The token launched in late July 2025 and has seen its holder count surge more than 9,000% within its first 30 days of existence. The numbers tell a strange story Let’s do some quick math. With 59,000 holders and a market cap near $290K, the average holder is sitting on about $4.90 worth of FXIon. The token itself is backed 1:1 by underlying ETF shares held in custody, meaning each FXIon token corresponds to an actual share of BlackRock’s iShares China Large-Cap ETF (ticker: FXI). This structure gives non-US investors a way to gain exposure to major Chinese equities without navigating the traditional brokerage infrastructure that often excludes them. FXIon was created by Ondo Global Markets (BVI) Limited and lives on the Ond...