BlackRock Enters Tokenized Investment Portfolios with Ondo Finance Partnership

BlackRock, the world's largest asset manager, has partnered with Ondo Finance to launch three tokenized investment portfolios onchain. The collaboration brings BlackRock's traditional offerings to crypto traders and marks its latest push into tokenization. The new portfolios will hold a mix of stocks, bonds, and Bitcoin ETFs, depending on the investor's profile.

The partnership is part of Ondo Finance's rollout of seven tokenized model portfolios, with tokens tracking each portfolio's performance. Investors will gain exposure to the underlying assets through self-executing software that buys shares once they purchase digital tokens. The offering will initially be available only to non-U.S. investors and can be traded 24/7.

The ONDO token has rallied double digits amid plans to roll out these portfolios, currently trading at around $0.48, up over 16%. This comes despite the decline in the broader crypto market, with BTC falling to as low as $83,000 over the last 24 hours.