Ondo Finance launched on March 5, 2025 three tokens representing portfolios called High Income (BLKHIon), Diversified Growth (BLKDIGon) and High Growth (BLKGRWon) built to BlackRock specifications, targeting non-US investors only. BlackRock Fund Advisors provides nondiscretionary model portfolio strategies but assumes no management obligation, update duty or liability toward token holders, who have no recourse against the firm. The issuer, Ondo Global Markets (BVI) Limited, routes capital into BlackRock’s own funds, generating management fees for the asset management giant without any advisory relationship or suitability duty. Ondo’s token rose 25 percent on launch day, but the question remains whether the BlackRock name holds value when it carries no corresponding responsibility from the world’s largest asset manager.
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