BlackRock

Ondo

Buying a diversified portfolio has always involved some paperwork: a brokerage account, a fund, and trading only while the market is open.&nbsp;
<a href="https://www.thestreet.com/crypto/tag/ondo-finance" rel="noopener noreferrer nofollow">Ondo Finance</a>&nbsp;is testing whether investors will skip all of that for a single token. Less than a month in, more than $20 million has gone in.
Ondo is one of the larger names in tokenization, the practice of putting traditional assets such as stocks and Treasury bills onto a&nbsp;<a href="https://www.thestreet.com/crypto/tag/blockchain" rel="noopener noreferrer nofollow">blockchain</a>&nbsp;as digital tokens.&nbsp;
<a href="https://www.thestreet.com/crypto/markets/jpmorgans-31-year-old-report-embraces-once-mocked-asset" rel="noopener noreferrer nofollow">Related: JPMorgan’s 31-year-old report embraces once-mocked asset</a>
On Oct. 20, it said its Ondo Intelligent Portfolios had passed $20 million in total value locked (TVL). TVL measures how much money sits in a product. The portfolios <a href="https://ondo.finance/blog/introducing-ondo-intelligent-portfolios" rel="noopener noreferrer nofollow">went live</a> on Sept. 24.
That is a sliver of the roughly <a href="https://www.thestreet.com/crypto/markets/ondo-hits-4-billion-tvl-on-tokenized-stock-growth" rel="noopener noreferrer nofollow">$4 billion Ondo holds across its business</a>. Still, it is an early read on demand for something new: an entire investment strategy packed into one token.
<h2 id="seven-strategies-one-token-each">Seven strategies, one token each</h2>
Each Ondo Intelligent Portfolio is a single token that tracks a basket of tokenized assets. The basket follows a defined investment strategy.
Holders don’t pick the assets, decide how much of each to own or rebalance the mix themselves. Rebalancing means trading a portfolio back to its target weights after price moves knock it off course. Ondo handles all of it.
The <a href="https://ondo.finance/intelligent-portfolios" rel="noopener noreferrer nofollow">lineup currently has seven portfolios</a> across income, allocation and thematic categories:
<ul>
 <li>Ondo 8 Targeted Income TR Portfolio (YLD8on)</li>
 <li>Ondo 5 Targeted Income TR Portfolio (YLD5on)</li>
 <li>Ondo High Income Powered by BlackRock (BLKHIon)</li>
 <li>Ondo Diversified Growth Powered by BlackRock (BLKDIGon)</li>
 <li>Ondo High Growth Powered by BlackRock (BLKGRWon)</li>
 <li>Ondo Magnificent 7 and Crypto Portfolio (MAG7Xon)</li>
 <li>Ondo AI Leaders Portfolio (BRAINon)</li>
</ul>
The company says more are coming soon.
<h3 id="blackrock-s-blueprints-ondo-s-wrapper">BlackRock’s blueprints, Ondo’s wrapper</h3>
The three, labeled High Income, Diversified Growth and High Growth, follow strategies that asset manager BlackRock created for Ondo.&nbsp;
Ondo says this is the first time onchain investors have been able to hold BlackRock-designed portfolios through a single token.
The BlackRock label is worth reading closely, though.&nbsp;<a href="https://www.thestreet.com/crypto/tag/blackrock" rel="noopener noreferrer nofollow">BlackRock</a>&nbsp;supplies the strategy. Ondo is the manager, sponsor and administrator of every portfolio, including the three with BlackRock’s name on them. Anyone buying in is relying on Ondo.
Under the hood, investors mint a token to buy in and redeem it to cash out.&nbsp;
Code on the blockchain, known as&nbsp;<a href="https://www.thestreet.com/crypto/tag/smart-contracts" rel="noopener noreferrer nofollow">smart contracts</a>, handles rebalancing automatically. Anyone can check each portfolio’s holdings and trades on the public ledger as they happen.
The tokens can also travel.
Holders can send them directly to other wallets, list them on exchanges or use them in <a href="https://www.thestreet.com/crypto/tag/decentralized-finance" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a> apps, which offer lending and trading without a bank, subject to local rules.
However, U.S. readers can only watch for now. The portfolios are limited to eligible investors outside the U.S., and some other jurisdictions are excluded as well.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
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</ul>
<h3 id="where-the-token-parts-ways-with-the-etf">Where the token parts ways with the ETF</h3>
Ondo pitches the portfolio token as the ETF’s successor, much as the ETF improved on the mutual fund.
The closer comparison may be the model portfolio. That is a ready-made allocation, usually designed by a big asset manager, which a financial adviser rebuilds for clients one holding at a time.
Ondo argues both formats come with friction. They require brokerage accounts and fund structures. They trade only during market hours, and remain out of reach for much of the world’s population.
<h3 id="where-ondo-stocks-end-and-portfolios-begin">Where Ondo Stocks end and portfolios begin</h3>
The portfolios also sit apart from <a href="https://www.thestreet.com/crypto/markets/ondo-perps-launches-spot-trading-for-ondo-stocks" rel="noopener noreferrer nofollow">Ondo Stocks</a>,&nbsp;the company’s larger line of tokenized shares.&nbsp;An Ondo Stock, such&nbsp;as NVDAon or SPYon tracks one security, and the investor makes every decision.
The portfolio tokens take those decisions away. Ondo handles the stock picking, the sizing and the upkeep.
Twenty million dollars in under a month shows there is interest. Whether that grows into the kind of money Ondo’s <a rel="noopener noreferrer nofollow">tokenized stocks</a> attract will depend on how many investors outside the U.S. trust a token and its issuer over a brokerage statement.
<a href="https://www.thestreet.com/crypto/markets/harvards-largest-stock-holding-is-a-rocket-company" rel="noopener noreferrer nofollow">Related: Harvard’s largest stock holding is a rocket company</a>

Ondo’s tokenized portfolios hit $20 million in first month

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