BlackRock's Model Portfolios Now Available as DeFi Tokens
Ondo Finance has launched three DeFi tokens based on BlackRock's model portfolios, allowing users to buy and trade them directly.
The tokens, BLKHIon, BLKDIGon, and BLKGRWon, track high-income, diversified growth, and high-growth strategies respectively. They hold a basket of tokenized stock, bond, and Bitcoin ETFs, weighted and rebalanced according to BlackRock's model.
The launch has seen ONDO, the platform's native token, rise by 18% within 24 hours, with some outlets reporting a 22% increase. The tokens trade on Ethereum and BNB Chain, settling instantly and accessible through popular wallets such as Uniswap and MetaMask.
This move is significant as it marks the first time BlackRock has licensed its strategy logic to a DeFi protocol. If successful, this could pave the way for other asset managers to follow suit, potentially leading to more active management being made available on public blockchains.