IAUon represents the tokenized form of the iShares Gold Trust issued by Ondo. It provides holders with economic benefits comparable to owning IAU, including the reinvestment of dividends. Through Ondo’s tokenized stock platform, institutional and retail investors outside the U.S. can mint and redeem these U.S. ETF tokens instantly. This service operates 24 hours a day, five days a week, offering complete access to traditional exchange liquidity, though further restrictions are in place.