Crypto
BlackRock Portfolios Tokenized by Ondo in Blockchain Debut
Ondo is launching seven tokenized model portfolios on Thursday, including three from BlackRock. The portfolios will hold a mix of stock, bond, and Bitcoin exchange-traded funds depending on their profile.
The BlackRock portfolios are high-income, diversified growth, and high-growth. Ondo will issue a token tracking each portfolio, allowing investors to buy shares in the underlying ETFs through self-executing software.
The model portfolios will initially be available to non-US investors who won't have direct shareholders' rights in the underlying securities held. Investors can borrow against their tokens, transfer them, and trade them 24/7.