Morning Minute: BlackRock Leans Deeper Into Tokenization with Ondo

GM!

Today’s top news:

• Crypto majors rebound 2-3% despite yields rising; BTC at $84.5k
• Alts like Ondo and BP post monster moves on back of tokenization wave
• SEC Commissioner Pierce calls for zkProofs to replace legacy KYC
• BitGet confirms $350M drain, Magic Eden contracts suffer security exploit as well
• OpenSea launches physical collectibles hub

$87.2k$84.9k$82.6k$80.3k

24h HighHigh$85,208

24h LowLow$83,513

VolVol$1.6B

Market projectionsOdds by Myriad

🧱 Tokenization’s Next Phase Has BlackRock’s Name on It

The tokenization pitch has always been the same: take a thing that exists, put it on a blockchain, make it move faster. Treasuries, money market funds, stocks have been put onchain. Wednesday produced something different. BlackRock developed three portfolio strategies for Ondo, and each one now trades as a single token that carries an entire allocation, rebalances itself, and moves peer-to-peer between wallets. Nothing like it exists in a brokerage account.

This isn’t BlackRock’s first push into tokenization. It’s BUIDL put a money market fund onchain in March 2024. In July, Ondo tokenized BlackRock’s iShares Core S&P 500 ETF alongside Micron shares. Every one of those wraps a single instrument. These new tokens wrap a mix of assets meant to be rebalanced over time, with holdings, weights, and every rebalance visible onchain. That’s the step from digitizing existing products to building ones that only work here.