Ondo Finance made a reputation out of putting stocks and treasuries on-chain. Now, they want something more.
The platform is moving into private markets.
The latest launch: Ondo Private Markets
Let’s get one thing clear with this new launch. You’re not actually buying shares. You get tokenized notes.
Here’s how the payout works. The note’s eventual payout is linked to the value realised per common share when the referenced company undergoes a qualifying liquidity event. If the company does well, buyer does well. If it flops, so does the note.
There’s no shares with your name on them, and no say in how the company is run.
What you do get though, is freedom to move. Eligible investors can hold the notes in their own self-custody wallets or trade them on secondary markets.
The first notes start trading this week.
Ondo has done this before… with public companies. Ondo Stocks lists more than 450 US stocks and ETFs; holds over $1 billion in TVL.
Private markets are the next room over, but its getting crowded.
In April, Robinhood’s venture fund put $75 million into OpenAI common stock. They opened it up to retail investors through a publicly traded closed-end fund. In June, Citi was reported to be building a blockchain marketplace for private-company shares.
ONDO holds above $0.50 after a 50% run in September
The token itself has had a decent few weeks. ONDO at press time was at $0.507; that’s about 50% above its mid-September low near $0.33!
The top didn’t last, though.
ONDO tagged about $0.61 on the 28th, then fell back. The token has since been moving sideways.
RSI was still in bullish territory but below its signal line at 63. OBV also peaked near 365 million during the rally, dropped, and has since crept back to 329 million. Some buyers left, a few are returning.
If the new notes pull real volume this week, $0.55 is the first level worth watching. If they don’t, $0.48 is where things get uncomfortable.
Final Summary
- Ondo Finance launched Ondo Private Markets; there’s tokenized notes tied to an unnamed pre-IPO AI company.
- ONDO hasn’t reacted much since the announcement; $0.55 and $0.48 are key levels.
