Tokenized Traditional Assets
Ondo Finance Expands Tokenized Access to Traditional Assets Through Major Industry Partnerships
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Key Points
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The BlackRock portfolios mark the first time the asset manager has outsourced tokenization to another firm. Ondo said its tokens use self-executing code to purchase the underlying ETF shares as investors buy in.
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NEAR’s launch includes tokenized shares of companies such as Nvidia, Tesla, Apple and Microsoft, as well as ETFs including SPDR S&P 500 and Invesco QQQ. NEAR said, “Stocks and ETFs are only the beginning. Nearly every other kind of asset is moving on-chain.”
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The FXStreet article reported that Ondo had $3.66 billion in distributed asset value, 460 tokenized assets and more than 486,000 RWA holders.
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For the institutional conversion service, users need active accounts with both Ondo and Alpaca and must complete onboarding and approval. Ondo said the process is automated, so an institution does not need separate manual approval for each transaction.
Ondo Finance is making traditional investments accessible on blockchain through new partnerships with BlackRock and NEAR Protocol. CryptoNews reported that Ondo launched Intelligent Portfolios—single tokens combining stocks, bonds, and Bitcoin ETFs—marking the first time BlackRock has outsourced tokenization to another firm. The expansion also includes an institutional conversion service letting approved firms convert shares from Alpaca brokerage accounts into Ondo tokens on Ethereum or BNB Chain.
The announcements triggered a 24% surge in Ondo's token price, rising from $0.43 to $0.517. FXStreet noted that Ondo now manages $3.66 billion in distributed asset value across 460 tokenized assets and serves more than 486,000 RWA token holders. NEAR's integration lets users buy Ondo-tokenized U.S. stocks and ETFs using assets from 30 networks, with confidential transactions hiding balances and trade activity.
BlackRock's First Outsourced Tokenization Partnership
Ondo launched three Intelligent Portfolios built on BlackRock's allocation strategies, part of seven total model portfolios available on the platform. Yahoo Finance reported that the move marks the first time BlackRock has delegated portfolio tokenization to an external firm. BlackRock supplied only the strategy allocations—it does not serve as investment adviser, manager, or distributor of the tokens themselves.
Lisa O'Connor, BlackRock's Global Head of Model Portfolio Solutions, said tokenization creates "new ways for portfolio strategies to be delivered through digital infrastructure." Non-U.S. investors can transfer, trade, and borrow these portfolios around the clock without direct shareholder voting rights. Ondo uses self-executing code to automatically purchase the underlying ETF shares as investors buy in.
NEAR Protocol Opens Cross-Chain Stock Trading
NEAR Protocol integrated Ondo Stocks into its blockchain on September 22, 2026, enabling users to buy tokenized shares of Nvidia, Tesla, Apple, and Microsoft across 30+ networks. Digg reported that users can also purchase ETFs like the SPDR S&P 500 and Invesco QQQ. Confidential transactions on NEAR conceal wallet balances and trade activity, protecting investor privacy.
NEAR Protocol stated, "Stocks and ETFs are only the beginning. Nearly every other kind of asset is moving on-chain." The network launched via NEAR Intents, which routes trades across multiple blockchains. Ondo Stocks now holds over $1 billion in total value locked and has generated $26 billion in cumulative trading volume since launch.
Alpaca's Instant Conversion Cuts Settlement Friction
Ondo partnered with Alpaca Clearing to launch an institutional conversion service on September 21, 2026. Approved institutions with active accounts at both Ondo and Alpaca can now convert brokerage shares directly into Ondo tokens on Ethereum or BNB Chain. The in-kind process is fully automated—institutions don't need manual approval for each individual transaction.
Ondo claims the in-kind conversion approach reduces financing costs and eliminates timing gaps between selling shares and minting tokens. Unlike traditional tokenization requiring cash sales first, this method keeps assets on Alpaca's books internally, mirroring how traditional ETF creation baskets work. However, these claimed liquidity benefits remain unverified until secondary market adoption scales significantly.
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