Loading Tokenized value
Loading Value in DeFi
Loading
Value flow
Loading Value flow
Ondo Global Markets
Structured note (debt), total-return tracker; Swiss-law terms, Reg S
Outstanding value$1.04B4.9%30 days
Market share28.3%
In DeFi$19M
Tokens450
Stocks450
Chains
Ethereum, BNB Chain, Solana, HyperEVM
Ondo Stocks (formerly Ondo Global Markets) are secured debt notes that track total return, not shares, issued by Ondo Global Markets (BVI) Ltd, a bankruptcy-remote SPV. The shares are held 1:1 plus a buffer through Alpaca, with Ankura Trust as security agent and daily attestations. Non-US investors pass KYC to mint and redeem, and any wallet can hold the tokens on the secondary market.
- Issuing entity
- Ondo Global Markets (BVI) Ltd (90.01% Flux Finance, 9.99% Ondo Finance)
- Jurisdiction
- British Virgin Islands SPV; Reg S, no prospectus approval found
- Backing
- 1:1 plus a buffer; Ankura Trust security agent, daily attestations
- Custodian
- Alpaca (DTC participant; shares registered to Cede & Co)
- Launched
- 3 Sep 2025 on Ethereum, 100+ names
- Who can buy
- Non-US only, KYC to mint and redeem; US and Canada excluded
- Website
- ondo.finance
Sources
- docs.ondo.finance/legal-and-regulatory
- docs.ondo.finance/trust-and-transparency
- docs.ondo.finance/eligibility
- docs.ondo.finance/investing-and-redeeming
- docs.ondo.finance/secondary-market-restrictions.md
- docs.ondo.finance/smart-contracts.md
- sec.gov/ctf-written-input-ondo-finance-041326.pdf
- ondo.finance/global-markets-is-live
- Sumcap research (2)
By
 CRCLonCircle Internet Group (Ondo Tokenized) | CRCL | 100 | 0.3% | $85M8.2% | 0.9% | ||
 STRConStrategy Stretch Preferred (Ondo Tokenized) | STRC | 88 | <0.1% | $72.6M7.0% | 897.7% | ||
 IVVoniShares Core S&P 500 ETF (Ondo Tokenized) | IVV | 148 | <0.1% | $69.4M6.7% | 3.8% | ||
 SPYonSPDR S&P 500 ETF (Ondo Tokenized) | SPY | 1,345 | 12.1% | $41M3.9% | 6.7% | ||
 HIMSonHims & Hers Health (Ondo Tokenized) | HIMS | 193 | <0.1% | $29.1M2.8% | 17.5% | ||
 IBIToniShares Bitcoin Trust (Ondo Tokenized) | IBIT | 24 | None | 0.0% | $28.8M2.8% | 28.5% | |
 QQQonInvesco QQQ (Ondo Tokenized) | QQQ | 1,279 | <0.1% | $28.1M2.7% | 2.2% | ||
 MSTRonMicroStrategy (Ondo Tokenized) | MSTR | 100 | None | 0.0% | $21.2M2.0% | 37.6% | |
 SLVoniShares Silver Trust (Ondo Tokenized) | SLV | 2,515 | 5.2% | $19.4M1.9% | 3.0% | ||
 NVDAonNVIDIA (Ondo Tokenized) | NVDA | 4,103 | 0.1% | $19M1.8% | 3.5% | ||
 MUonMicron Technology (Ondo Tokenized) | MU | 100 | 1.2% | $17.3M1.7% | 46.2% | ||
 TLToniShares 20+ Year Treasury Bond ETF (Ondo Tokenized) | TLT | 173 | <0.1% | $17.1M1.6% | 10.6% | ||
 NVDAonNVIDIA (Ondo Tokenized) | NVDA | 100 | 2.6% | $16.9M1.6% | 15.5% | ||
 IEFAoniShares Core MSCI EAFE ETF (Ondo Tokenized) | IEFA | 98 | <0.1% | $16.4M1.6% | 0.7% | ||
 MUonMicron Technology (Ondo Tokenized) | MU | 428 | 0.1% | $15.6M1.5% | 14.1% | ||
 CRCLonCircle Internet Group (Ondo Tokenized) | CRCL | 1,061 | 3.6% | $13.5M1.3% | 51.2% | ||
 AGGoniShares Core US Aggregate Bond ETF (Ondo Tokenized) | AGG | 47 | <0.1% | $13.3M1.3% | 4.4% | ||
 ITOToniShares Core S&P Total US Stock Market ETF (Ondo Tokenized) | ITOT | 65 | <0.1% | $12.6M1.2% | 2.4% | ||
 INTConIntel (Ondo Tokenized) | INTC | 100 | 0.9% | $12.2M1.2% | 28.5% | ||
 GOOGLonAlphabet Class A (Ondo Tokenized) | GOOGL | 1,404 | 0.1% | $11.4M1.1% | 12.0% |
1 to 20 of 1,306 tokens
of 66
Who holds it
Total$1.04B
- Wallets76.7%$801M
- Exchanges and market makers17.9%$186M
- Not indexed3.1%$32.7M
- DeFi1.8%$19M
- Unclassified0.4%$4.51M
- Other contracts<0.1%$145k
Where KYC applies
- OnboardingKYC
Direct onboarding is institutional; retail via Binance, Bitget, MetaMask
- Mint / redeemKYC
Signed quote and whitelisted user; redeem in USDon or USDC, $1 minimum
- Wallet transfersOpen
Any wallet on EVM; only Ondo's blocklist and sanctions checks
- DEX tradingOpen
UniswapX RFQ on Ethereum and BNB, Jupiter RFQ on Solana
- DeFi protocolsOpen
Morpho and Euler lending, Ondo Perps margin; holders may be unable to redeem