BlackRock Partners With Ondo to Launch Tokenized Investment Portfolios

The world’s largest asset manager, BlackRock, has partnered with Ondo Finance to launch three investment portfolios onchain. This comes as Ondo rolls out seven tokenized model portfolios, including those from the asset manager.

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BlackRock To Tokenize Model Portfolios Via Ondo

According to a WSJ report, the asset manager is rolling out three tokenized model portfolios on high growth, diversified growth, and high income through Ondo Finance. These portfolios notably hold a mix of stocks, bonds, and Bitcoin ETFs, depending on the investor’s profile.

This marks BlackRock’s latest tokenization push, bringing its traditional offerings to crypto traders. Last month, the asset manager launched two tokenized money market funds, offering a GENIUS-Act-compliant reserve asset for stablecoin issuers.

The asset manager’s latest tokenized launch forms part of Ondo Finance’s rollout of seven tokenized model portfolios. The top tokenization platform will issue tokens that track each portfolio’s performance.

Investors will also gain exposure to the assets in the portfolios, as self-executing software will buy shares in the underlying assets once they buy the digital tokens. The offering will initially only be available to non-U.S. investors, while investors can trade these digital tokens 24/7.

Ondo’s partnership with BlackRock comes just days after its partnership with Near Protocol to launch tokenized stocks and ETFs. As Part of the partnership, Ondo Stocks launched with 20 assets on near.com, including Tesla, NVIDIA, Apple and QQQ products.

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ONDO Price Rallies Double Digits

The ONDO token has rallied double digits amid plans to roll out tokenized model portfolios, including those from BlackRock. The token is currently trading at around $0.48, up over 16%, according to TradingView data.

This comes despite the decline in the broader crypto market, with the BTC price falling to as low as $83,000 over the last 24 hours. ONDO is up over 37% in the last week, flipping into the green this year and up over 33% year-to-date (YTD).

The rally comes despite the succession crisis that has rocked the tokenization platform since the death of its founder, Nathan Allman. Allman’s mother, other family members, and an early investor are among those currently seeking control of the company, a development that has also triggered legal disputes.