Ondo Finance has launched Ondo Intelligent Portfolios, a series of three tokens for non-US investors. The tokens, named High Income, Diversified Growth, and High Growth, track portfolios designed by BlackRock. The issuer is Ondo Global Markets (BVI) Limited, based in the British Virgin Islands.
The partnership structure limits BlackRock's role to licensing model portfolio strategies. BlackRock does not manage the onchain portfolios, holds no liability for the tokens, and is not obligated to update the strategies. Investors hold securities issued by Ondo, which provides no direct claim on the underlying funds managed by BlackRock.
This model allows BlackRock to collect management fees from its own funds included in the portfolios without assuming regulatory or advisory duties. Ondo generates revenue through issuance and tokenization spreads. The tokens are available to retail investors in the EEA under a prospectus approved in Liechtenstein.
The launch coincided with broader developments in tokenized assets. Ledger and Payward, the parent company of Kraken, introduced self-custody options for tokenized stocks. Additionally, Nasdaq's venture arm recently invested $100 million in Payward to support market infrastructure for tokenized equities scheduled for 2027.
Following the announcement, the price of the Ondo token increased by 25 percent. The market is now evaluating whether this licensing model will be adopted by other asset managers such as Franklin Templeton, WisdomTree, or Amundi, or if investors will prioritize direct fiduciary relationships.
