iShares Bitcoin Trust Tokenized Stock (Ondo) (IBITON): D-Score 46/100 — Moderately Decentralized

BlockIndex D-Score: 46/100 (Moderately Decentralized). iShares Bitcoin Trust Tokenized Stock (Ondo) (IBITON) is a Layer 2 cryptocurrency using Other consensus. IBITON: Ondo tokenized stock/RWA exposure to the iShares Bitcoin Trust ETF, not a native blockchain.

Source: https://blockindex.ai/coin/ibiton · Data by BlockIndex.AI · Updated 2026-06-19

D-Score breakdown (0-100, higher means more decentralized)
Component: Score: Overall D-Score: 46: Node distribution: 0: Initial distribution: 25: Governance: 16: Age and history: 5: Autonomy: 0: Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 1,155,298

Market data (as of 2026-06-19)
- Price: $35.61
- Market cap: $41.14M
- 24h volume: $54.56
- 24h change: -1.54% · 7d change: -0.57%

About
iShares Bitcoin Trust Tokenized Stock (Ondo), shown by market venues as IBITon/IBITON, is a tokenized real-world asset that represents on-chain exposure to BlackRock's iShares Bitcoin Trust ETF through Ondo-related tokenization infrastructure. It is not the ETF itself and not a native blockchain.\n\nThe asset should be displayed as a tokenized stock/RWA product. It has no independent consensus mechanism, mining algorithm, block reward, validator set, or native node network. Market data providers currently report price, circulating supply, market capitalization, and low 24-hour trading volume for the tokenized asset, while deeper contract/chain metadata is not consistently exposed in the available public listing data.\n\nDecentralization risk is therefore mostly issuer/custody/regulatory risk: holders rely on the tokenization issuer, reserve/custody structure, compliance rules, and the host blockchain infrastructure rather than an autonomous open cryptocurrency network.

Links
- Website: https://coinmarketcap.com/currencies/ishares-bitcoin-trust-tokenized-stock-ondo/
- Whitepaper: N/A
- GitHub: N/A

---
About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore