Ondo launches BlackRock portfolio tokens for non-US investors

Ondo Finance launched three on-chain portfolio tokens on Sept. 24, utilizing investment strategies developed by BlackRock. The tokens, which include Ondo High Income (BLKHIon), Ondo Diversified Growth (BLKDIGon), and Ondo High Growth (BLKGRWon), provide economic exposure to diversified baskets but are securities issued by Ondo, not interests in BlackRock funds. Only eligible non-US investors who complete onboarding can redeem the tokens directly with Ondo. Each token is classified as a separate security issued by Ondo Global Markets (BVI) Limited. Holding a token offers exposure to a weighted basket that includes Ondo Stocks, but does not grant rights to the underlying funds. BlackRock supplies model allocations but does not manage the portfolios or owe fiduciary duties to token investors. Ondo manages and administers the products, deciding on any changes to the models. Direct minting and redemption require eligible non-US individuals to complete identity and anti-money-laundering checks. Tokens can be transferred on-chain, but possession does not qualify holders for redemption. Peer-to-peer transfers are available, but market conditions may affect the ability to exit.

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