Ondo Finance today launched what it says are the first live third-party tokenized U.S. securities operating under the Securities and Exchange Commission’s (SEC) custodial framework, marking a new step for regulated tokenized assets in the United States.
According to the official announcement, the initial offering includes tokenized versions of BlackRock’s iShares Core S&P. 500 ETF (IVV) and Micron Technology (MU) shares on the Ethereum blockchain.
According to Ondo, the products follow the custodial model outlined by the SEC in its January 2026 statement on tokenized securities, where a third party holds the underlying securities and issues blockchain-based tokens representing ownership interests.
How the custodial model works
Ondo said the underlying shares remain within the traditional U.S. regulated custody system rather than moving onchain. Its registered transfer agent mints blockchain tokens backed one-to-one by those securities, while regulated custodians continue holding the underlying assets.
The company said this represents the first production deployment of the SEC-described third-party custodial model for tokenized securities in the United States. Unlike some tokenized securities issued offshore, the structure is designed to operate within existing U.S. securities regulations without requiring issuers to tokenize shares directly.
Broadridge to provide shareholder voting and disclosures
As part of the launch, Broadridge Financial Solutions will provide governance services for token holders through its ProxyVote.com platform.
According to Ondo, investors holding the tokenized securities will receive shareholder communications, regulatory disclosures, and proxy voting rights similar to those available to investors holding the same securities through traditional brokerage accounts. The company added that transfer restrictions will continue to be enforced by participating broker-dealers, transfer agents, and custodians under existing regulatory requirements.
Initial offering includes BlackRock ETF and Micron shares
The first assets available through the platform are tokenized shares of BlackRock’s iShares Core S&P 500 ETF (IVV) and Micron Technology (MU).
Ondo said the tokens are issued on the Ethereum blockchain while remaining fully backed by the underlying securities held in regulated custody. The approach is intended to combine blockchain-based settlement with the existing U.S. securities infrastructure rather than replacing it.
Ondo continues expanding tokenized securities
Ondo’s latest U.S. launch builds on a series of recent initiatives aimed at expanding access to tokenized traditional assets.
Last month, self-custody wallet provider Exodus partnered with Ondo Finance to launch Exodus Markets, enabling eligible users to buy and sell more than 200 tokenized stocks, exchange-traded funds (ETFs), and other real-world assets directly through the Exodus wallet on the Solana blockchain. The integration brought tokenized equities alongside the wallet’s existing crypto services, including asset storage, swaps, staking, and payments.
On June 25, Ondo also introduced what it described as the industry’s first 24/7 minting and redemption service for tokenized U.S. stocks and ETFs. The service allows eligible users to create and redeem supported tokenized securities at any time, including weekends and U.S. public holidays, across Ethereum and BNB Chain, with Solana support planned.
The update removed one of the remaining constraints tying tokenized securities to traditional U.S. market hours, allowing continuous issuance and redemption based on prevailing market prices.
Tokenized securities gain traction across traditional finance
The launch comes as financial institutions continue expanding efforts to bring traditional assets onto blockchain networks. Banks, asset managers, and fintech firms have increasingly explored tokenization for products including government bonds, money market funds, private credit, and equities, aiming to improve settlement efficiency and broaden market access while remaining within existing regulatory frameworks.
Ondo said its latest offering demonstrates how tokenized securities can be issued under current U.S. rules while preserving investor protections, recordkeeping standards, and shareholder rights that exist in traditional capital markets.
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