Ondo launches three BlackRock-linked tokens, but only eligible non-US investors can redeem directly

Ondo Finance launched three on-chain portfolio tokens on Sept. 24 using investment strategies BlackRock developed for Ondo. The products are Ondo High Income (BLKHIon), Ondo Diversified Growth (BLKDIGon), and Ondo High Growth (BLKGRWon). Ondo said it implements the allocations with tokenized assets and rebalances the portfolios on a preset schedule. The tokens provide economic exposure to weighted baskets that include Ondo Stocks, which track equities and exchange-traded funds. The tokens do not give holders rights to the underlying funds or securities. Ondo's legal disclosure identifies each token as a separate security issued by Ondo Global Markets (BVI) Limited. Only eligible non-US investors who complete identity and anti-money-laundering checks can redeem the tokens directly with Ondo. The process also screens for US-person status, restricted jurisdictions, and prohibited persons. Holders can receive or hold the transferable tokens without completing onboarding. Possession alone does not qualify a holder for direct redemption. BlackRock Fund Advisors supplies model allocations to Ondo but does not make investment decisions for the on-chain portfolios. Ondo implements the models and manages, sponsors, and administers the products. BlackRock does not manage the portfolios or owe advisory or fiduciary duties to token investors. BlackRock is generally not required to update its model after delivery. Ondo decides whether to apply any model changes, so an on-chain portfolio may differ from its corresponding model. Ondo describes peer-to-peer transfers as available around the clock through supported third-party platforms. That availability does not guarantee a buyer at a given price or an immediate exit. Holders who cannot redeem directly depend on a third party willing to take the token, subject to venue rules and market conditions.