BlackRock has partnered with Ondo Finance to launch three investment portfolios onchain as part of a broader rollout by Ondo introducing seven tokenized model portfolios.
According to reports, BlackRock is rolling out three tokenized model portfolios focused on high growth, diversified growth, and high income via Ondo Finance. Depending on the investor's profile, these portfolios hold a mix of stocks, bonds, and Bitcoin ETFs. This initiative represents BlackRock's latest tokenization effort to bring traditional financial offerings to crypto traders, following the launch of two tokenized money market funds last month.
Ondo Finance will issue tokens that track the performance of each portfolio. When investors buy the digital tokens, self-executing software will purchase shares in the underlying assets, providing investors with exposure to those holdings. The offering will initially be limited to non-U.S. investors, with digital tokens available for trading 24 hours a day, 7 days a week.
The partnership with BlackRock follows Ondo's recent collaboration with Near Protocol to launch tokenized stocks and ETFs, which introduced 20 assets to near.com including shares of Tesla, NVIDIA, Apple, and QQQ products.
Amid the announcement, the ONDO token rallied in double digits, trading around $0.48 and gaining over 16% according to TradingView data. The price increase occurred during a broader crypto market decline that saw Bitcoin fall as low as $83,000, bringing ONDO up over 37% for the week and more than 33% year-to-date.
This market activity coincides with an ongoing succession crisis and legal disputes surrounding Ondo following the death of its founder, Nathan Allman, with family members and an early investor seeking control of the company.
