BlackRock Teams with Ondo Finance to Launch Blockchain-Based Portfolios
BlackRock and Ondo Finance have partnered to launch tokenized portfolios on the blockchain. These portfolios, called Ondo Intelligent Portfolios, are the first BlackRock-created allocations available as tokens on the blockchain.
The three-layer portfolio design involves a strategy provider, which is BlackRock in this case, developing the portfolios and allocating assets within them. Ondo Finance then creates the portfolios using their own tokenized stocks, which are backed by real-world securities.
The portfolios can be bought as single tokens on the blockchain, eliminating the need for individual investors to manage each stock or asset. Three portfolios developed by BlackRock are available: BLKHIon (High Income), BLKDIGon (Diversified Growth), and BLKGRWon (High Growth). Ondo Finance is also releasing four additional portfolios.