ONDO Crypto Surges on BlackRock-Backed Token Launch

ONDO Crypto's price has surged by nearly 30% in the last 24 hours to $0.57, following the launch of its BlackRock-backed tokenized portfolios.

Ondo Finance introduced Ondo Intelligent Portfolios on September 24, featuring three on-chain tokens: BLKHIon, BLKDIGon, and BLKGRWon.

These tokens allow holders to gain exposure to a weighted basket of tokenized equities and ETFs, with rebalancing executed via smart contract and constituent weights visible on-chain.

Ondo's acting chief executive, Ian De Bode, described the structure as 'never been available onchain', noting that BlackRock supplied model allocations but disclaimed any role as adviser or sponsor.