Ondo Reports $4 Billion Across 484 Tokenized Assets

Ondo Finance recorded more than $4 billion in tokenized assets on Nov. 5, highlighting the expansion of blockchain-based access to traditional financial investments. The company recorded 484 assets and more than 565,000 on-chain holders, an address-based measure that does not establish the number of individual investors.

Citing RWA.xyz data, Ondo ranked itself first among 203 tracked tokenization platforms, representing roughly 10% of tokenized asset value excluding stablecoins. The total measures Ondo’s tokenized products, separately from the market capitalization of its ONDO governance token.

Portfolio Products Pass $50 Million

Ondo’s Intelligent Portfolios crossed $50 million during the week. These products package investment portfolios into single blockchain tokens, giving eligible investors a way to hold a portfolio without purchasing each component separately.

The company also recorded more than $900 million in tokenized value across over 430 U.S. stocks and ETFs through Ondo Global Markets. Its tokenized Treasury products exceeded $3 billion, showing that government-debt exposure remained the largest part of its reported product base despite expansion into equities.

Ondo’s products operated across 10 blockchains. For customers, access still depends on whether their chosen product is supported on the network they use.

Stock Tokens Carry Different Ownership Rights

Ondo’s stock tokens aim to track the financial returns of underlying securities, including dividends reinvested after applicable withholding taxes. The tokens do not give holders direct ownership of the underlying shares or shareholder voting rights.

One token also does not necessarily equal one share or match its quoted price. Dividend reinvestment can change the amount of underlying exposure represented by each token, so comparing token and share prices alone may give an incomplete picture of their relative value. Ondo clears that the tokens are backed by underlying assets together with cash in transit.

Investor Restrictions Still Apply

Ondo’s stock-token eligibility rules exclude U.S. individuals and purchases placed from within the United States. Canada and several other jurisdictions are also prohibited, while some markets require investors to meet professional or other eligibility conditions.

Holding the tokens in a personal wallet does not remove those restrictions. Direct purchases and redemptions remain subject to onboarding requirements and the relevant product documents, limiting who can access the service despite its availability on public blockchains.