Ondo Finance portfolios go live on Solana with 7 one-token baskets

Ondo Finance ($ONDO) said on Thursday, Oct. 29, that its Intelligent Portfolios are now live on Solana ($SOL). The Ondo Finance portfolios, seven in all, can be held through Solana wallets and apps by eligible investors outside the U.S.

What happened

Each portfolio is one token that holds a basket of Ondo Stocks, the company’s tokenized U.S. stocks and ETFs. Smart contracts handle the weights, the scheduled rebalancing and the fees. Holders can see the holdings and each rebalance onchain.

Three portfolios follow strategies BlackRock developed for Ondo: high income (BLKHIon), high growth (BLKGRWon) and diversified growth (BLKDIGon). Ondo designed the other four: MAG7Xon (Magnificent 7 and crypto), BRAINon (AI leaders), YLD5on and YLD8on (targeted income). The release says BlackRock supplies model strategies and does not manage the portfolios.

The portfolios launched on Sept. 24 on Ethereum and BNB Chain. Ondo’s press release puts their combined value locked above $40 million in the first four weeks; its blog post says above $45 million. Both figures come from the company.

Ondo also says it holds more than $500 million in tokenized assets on Solana. Its release, citing Blockworks and RWA.xyz data, counts over 1.6 million Solana addresses holding tokenized stocks. Nick Ducoff of the Solana Foundation said: “Tokenized assets are one of the fastest-growing categories on Solana.”

Why it moved

$ONDO rose 3.0% in 24 hours to $0.431, according to CoinGecko, in line with LiveCoinWatch. Bitcoin ($BTC) gained 1.5% over the same period, per LiveCoinWatch, so much of the market rose together. No source ties the token’s move to the launch.

What to watch next

Ondo says more portfolios are coming but gives no date. The tokens are not offered to U.S. persons, and places such as the UK, Switzerland and Singapore limit them to qualified or professional investors.

Bottom line: Ondo Finance now offers all seven of its one-token portfolios on Solana, its third network after Ethereum and BNB Chain.

Sources

• Ondo Finance blog: Ondo Intelligent Portfolios Go Live on Solana (Oct. 29)
• PR Newswire: Ondo Intelligent Portfolios Lineup Expands to Solana (Oct. 29, 9:30 a.m. ET)
• Ondo Finance blog: Introducing Ondo Intelligent Portfolios (Sept. 24)
• CoinGecko: Ondo Finance price (11:56 a.m. ET, Oct. 29)
• LiveCoinWatch: price cross-check and Bitcoin data (11:57 a.m. ET, Oct. 29)

Price data: CoinGecko, cross-checked with LiveCoinWatch.

Not financial advice.