DeFi Protocol Ondo Finance's Token Soars Amid Tokenization Hype

In brief Ondo rose nearly 10% Thursday to $1.10, bringing weekly gains to more than 21%, CoinGecko data shows. Total value locked on its Global Markets Platform has tripled this year to $1.57 billion, aided by new partners including WisdomTree. BlackRock’s move to put ETFs on blockchains is adding credibility to Ondo’s push into tokenized stocks and real-world assets, Decrypt was told. Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE The token belonging to decentralized finance-focused asset manager and tech firm Ondo Finance is extending gains this week alongside a rising crypto market and fresh headlines related to the world’s largest asset manager, BlackRock. While the crypto market’s broader bullish sentiment is being driven by the strong possibility of a Federal Reserve rate cut decision, the tokens' rise coincides with BlackRock’s plans to introduce exchange-traded funds onto public blockchains, Bloomberg reported Wednesday. Ondo is up nearly 10% on the day to $1.10 after clocking more than 21% gains this week, CoinGecko data shows. Thursday's gains follow last week's launch of tokenized versions of more than 100 U.S.-listed stocks, ETFs, and other equities on Ethereum via the DeFi protocol's Global Markets platform. Lai Yuen, investment analyst at Fischer8 Capital, told Decrypt Ondo’s price rise is likely driven by “excitement around tokenized stocks.” Onboarded partners and advisors for Ondo’s Global Markets, which includes the likes of WisdomTree, have added $160 million to its TVL in nine days. That all but “underscores the project’s strong early traction,” Yuen said. The project’s total value locked, as a result, has nearly tripled since the start of 2025, growing from $611 million to $1.57 billion, DefiLlama data shows. The long-term outlook remains bullish, according to Yuen, who posits that even if the project captures 10% of the stock market, it would translate to “substantial fee generation for Ondo token holders.” “The project’s regulatory moat, bolstered by its advisory board, provides a durable long-term advantage that will be difficult for competitors to replicate,” he said. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!