BlackRock boosts Ethereum with new onchain intelligent portfolio tokens

BlackRock just became the engine behind a new class of investment tokens living on Ethereum, and the market noticed immediately. Ondo Finance launched three onchain portfolio tokens on September 24, built on portfolio allocation strategies designed specifically by BlackRock, giving eligible non-US investors access to institutional-grade investment approaches through a format that trades around the clock. The ONDO token surged between 18% and 30% in the hours following the announcement. Ethereum’s active address count jumped roughly 30% in the same window. What BlackRock actually built The three new tokens carry the names BLKHIon, BLKDIGon, and BLKGRWon. Each one maps to a distinct investment theme: income, diversified growth, and high-growth allocations, respectively. BlackRock developed nondiscretionary portfolio allocation models specifically for Ondo, meaning BlackRock designed the playbook but doesn’t run the day-to-day operations. Ondo Global Markets handles issuance and oversight of the tokens, while smart contracts manage automatic rebalancing and provide full onchain visibility into what each token actually holds. The underlying assets include tokenized equities and ETFs. C...