Owning BAION: Exposure, Storage and Risks

BAION is Ondo’s tokenized version of the iShares A.I. Innovation and Tech Active ETF (BAI). It is designed to give tokenholders economic exposure similar to holding BAI, including reinvestment of any dividends. The underlying ETF focuses on companies involved in artificial intelligence innovation and technology.

That does not automatically make BAION the same as owning BAI shares in a brokerage account. Before using it, check Ondo’s current terms for your location, eligibility, redemption process and any limits on the rights attached to the token. Ondo describes its tokenized stocks and ETFs as available to non-U.S. retail and institutional users, with additional restrictions; that is not a guarantee that every user or country is eligible.

The token’s market price can differ from the value of the ETF exposure it is intended to track. You should also consider the ETF itself, the token issuer and the blockchain infrastructure, rather than treating BAION as a direct substitute for a conventional fund holding.

BAION has been issued on Ethereum, BNB Chain and Solana. These are separate networks, so a token sent using the wrong network may not arrive in a wallet or exchange account that supports it. Confirm the exact network and token address with the service you plan to use before sending or receiving BAION.

You can store it in a self-custody wallet that supports the relevant network and token standard, or with a custodian that explicitly supports BAION. A wallet’s ability to hold tokens on one chain does not mean it supports BAION on all three. Check the asset name, network and contract details through a trusted channel before adding a token manually; similarly named tokens can be unrelated or fraudulent.

Ondo describes minting and redemption as available 24 hours a day, five days a week, subject to restrictions. That does not mean every exchange or wallet offers trading around the clock, or that you can redeem at any time without meeting the issuer’s requirements.

As of 2026-11-07, BAION’s circulating and total supply were both about 63,052 tokens. A maximum supply has not been published, so the reported total should not be read as a fixed cap. Token supply can change, and you should check the latest figure before relying on it.

On that date, BAION’s price was about $33.97, its market capitalization was about $2.1 million, and reported 24-hour trading volume was about $124. These figures are snapshots, not guaranteed prices or a measure of how much you could sell at a quoted price. Low trading volume can make it harder to trade quickly or without affecting the price.

Ondo says tokenholders receive economic exposure similar to holding BAI, with any dividends reinvested. The token count alone does not tell you how much exposure you have to the ETF or what redemption value you may receive. Review the issuer’s terms and the available trading or redemption route before relying on a market quote.

For self-custody, use a wallet you control, protect its recovery phrase offline, and never share that phrase or a private key. Verify the network and receiving address before each transfer. A transaction sent on the wrong chain can be difficult or impossible to recover. If you use an exchange or custodian, check that it supports BAION on the specific network you intend to use.

BAION carries several layers of risk: the value of the underlying ETF can fall; the token may trade at a premium or discount to its intended exposure; and limited liquidity can make trading difficult. You also rely on the issuer’s terms and processes, the token contract, the blockchain, and any custodian you use. Network outages, contract vulnerabilities or loss of access to your wallet can create additional problems.

Read the current eligibility and redemption terms before acquiring or transferring the token. Do not assume you have the same rights, protections or convenience as a direct shareholder in a conventional brokerage account. Never risk money you cannot afford to lose.