Ondo Finance Moves $95M to BlackRock's Tokenized Fund, Totaling AUM to $240M

By: Eva Baxter

Ondo Finance, a company specializing in tokenized real-world assets, has disclosed plans to relocate $95 million of its assets to a tokenized fund, BUIDL, operated by BlackRock. This transfer comprises the entire value locked (TVL) behind Ondo's OUSG token.

The US Treasury-based OUSG token delivers liquid exposure to investors. Ondo relays that this decision reaffirms its initial concept of a “tokenized US Treasury fund” and indicates progress in the tokenization of traditional securities in the financial sector. Ondo's strategy is to offer real-time settlements and redemptions, for which reliance on BUIDL is critical.

In related news, BlackRock's BUIDL has attracted a total of $240 million within its first operational week. Predominantly comprised of USDC, the Ethereum-based BUIDL fund was introduced by BlackRock on the Ethereum network.

The fund tokenizes assets via the BUIDL token, enabling qualified investors to earn US dollar yields. Its assets comprise cash, US Treasury bills, and repurchase agreements, 100%, marking it as the first-ever tokenized fund issued on a public blockchain.