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Ondo launches three on-chain portfolio tokens tied to BlackRock strategies

The tokens are securities issued by Ondo Global Markets, with direct redemptions available only to eligible non-US investors who complete onboarding.

Reported · Written up by our desk · Altcoins

Ondo Finance launched three on-chain portfolio tokens on Sept. 24, using investment strategies BlackRock developed for the company, according to the project’s launch materials summarized by CryptoSlate.

The tokens provide buyers economic exposure to diversified baskets, but they are securities issued by Ondo rather than interests in any BlackRock fund. CryptoSlate notes the first three products are Ondo High Income (BLKHIon), Ondo Diversified Growth (BLKDIGon), and Ondo High Growth (BLKGRWon).

Ondo implements BlackRock’s model allocations using tokenized assets and rebalances portfolios on a preset schedule. CryptoSlate adds that holders do not have a right to the underlying funds or securities, and that legal disclosures describe each token as a separate security issued by Ondo Global Markets (BVI) Limited.

CryptoSlate reports that only eligible non-US investors who complete onboarding can redeem the tokens directly with Ondo, while BlackRock Fund Advisors supplies model allocations but does not make investment decisions for the on-chain portfolio tokens.

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