BlackRock tailored three investment portfolio strategies for Ondo, and then Ondo turned them into on-chain tokens.
BLKHIon (High Yield), BLKDIGon (Diversified Growth), BLKGRWon (High Growth)—each one is a separate token containing a portfolio mix of stocks, bonds, and Bitcoin ETF exposure.
ONDO surged 16% on the day.
I dug into the essence of what’s going on:
Previously, RWA was about tokenizing individual assets—a U.S. Treasury bill, a money market fund, a stock. Today, Ondo is tokenizing the investment strategy itself—when you buy a token, you get a whole professionally designed allocation.
This is a structural leap, not just product iteration.
There’s one detail many people didn’t notice: BlackRock is not the manager, issuer, or distributor of these tokens—it only provides “non-discretionary model portfolio strategies,” meaning it specifies the weights and allocation plan; everything else is done by Ondo.
At the same time, BlackRock disclosed a potential conflict of interest: the ETFs held in the portfolios could include BlackRock’s own iShares products.
This isn’t a problem—it’s business.
Only non-U.S. investors can participate; U.S. regulators have not yet approved these kinds of products.
Ondo Stocks’ TVL was zero eight months ago, and today it’s over $1 billion—this is speed.
If this model scales, asset managers won’t just be selling funds in the future—they’ll be selling strategy tokens that can be transferred, staked, or borrowed on-chain at any time.
Do you think this is one of the most important product innovations in the RWA space this year?
$ONDO
$BTC

#贝莱德为ondo开发代币化组合策略