SPDR Gold Shares (Ondo Tokenized)

GLDON is a tokenized “digital twin” of SPDR Gold Shares (GLD) issued by Ondo Finance, providing on-chain exposure to gold-backed ETF value. Tokens are custodial-backed, legally enforceable, and maintain a 1:1 pegged relationship to the underlying asset through controlled issuance and redemption. GLDON is backed by underlying exposure to SPDR Gold Shares (GLD), which holds physical gold in custody. The token follows a custodial-backed model where off-chain assets are maintained with qualified custodians, and corresponding tokens are issued on-chain to reflect that value. Supply is managed by the issuer to ensure alignment between token circulation and underlying holdings, supporting a pegged structure. Redemption mechanisms (where available) allow conversion back into the underlying exposure or equivalent value, subject to platform rules and compliance requirements.