#贝莱德为Ondo开发代币化组合策略
BlackRock didn’t move the funds on-chain. Instead, it sold the allocation to Ondo, and Ondo compressed the entire portfolio into a single token.
There are three: high yield, diversified growth, and high growth. One token = a basket of tokenized stocks and ETFs. Rebalancing is written into the contract; you can only buy it outside the U.S. “Powered by BlackRock” is the strategy source, not BlackRock managing the money, issuing, or custodying it.
My take:
The first phase of RWA was essentially taking snapshots—putting Treasuries and ETFs onto the blockchain. This time, it finally touches the core of asset management: the allocations themselves are on-chain. Brokerage accounts can’t do 24/7 transfers, use it as collateral, or plug it into DeFi. That’s the real progress.
Don’t be fooled by the brand. The legal counterparty is Ondo, not iShares. ONDO’s surge is a narrative, not AUM. Whether it can work depends on the minting volume, the rebalancing slippage, and whether it’s actually used for lending.
You can outsource the strategy, but you can’t outsource the risk.
$ONDO
BlackRock didn’t move the funds on-chain. Instead, it sold the allocation to Ondo, and Ondo compressed the entire portfolio into a single token.
There are three: high yield, diversified growth, and high growth. One token = a basket of tokenized stocks and ETFs. Rebalancing is written into the contract; you can only buy it outside the U.S. “Powered by BlackRock” is the strategy source, not BlackRock managing the money, issuing, or custodying it.
My take:
The first phase of RWA was essentially taking snapshots—putting Treasuries and ETFs onto the blockchain. This time, it finally touches the core of asset management: the allocations themselves are on-chain. Brokerage accounts can’t do 24/7 transfers, use it as collateral, or plug it into DeFi. That’s the real progress.
Don’t be fooled by the brand. The legal counterparty is Ondo, not iShares. ONDO’s surge is a narrative, not AUM. Whether it can work depends on the minting volume, the rebalancing slippage, and whether it’s actually used for lending.
You can outsource the strategy, but you can’t outsource the risk.
$ONDO
