For the first time, a U.S.-listed stock and ETF have been tokenized by a third party on a public blockchain and done so entirely within America's existing regulatory framework. Ondo Finance,
For the first time, a U.S.-listed stock and ETF have been tokenized by a third party on a public blockchain and done so entirely within America's existing regulatory framework.
Ondo Finance, the leader in tokenized securities by total value, has launched tokenized versions of BlackRock's iShares Core S&P 500 ETF (IVV) and Micron (MU) stock on the Ethereum blockchain.
The firm launched it in partnership with Broadridge Financial Solutions (NYSE: BR), one of the world's largest financial services infrastructure companies, which will provide voting rights and shareholder communications for token holders.
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Until now, tokenized versions of U.S. securities have largely operated outside the United States or required the issuing company itself to sponsor the process. Neither of those models worked at scale for the U.S. market.
Ondo's model is different. It follows a framework the SEC laid out in a January 2026 statement describing how a third party, not the company that issued the stock, can hold securities in custody and issue blockchain tokens representing ownership of those shares.
Ondo's launch of IVV and MU tokens are the first live deployments of that model in the United States.
"Today's milestone shows we can tokenize securities in ways that meet both market and regulatory requirements," said Ondo Finance CEO Ian De Bode.
"Ondo has built the regulatory, product, and service infrastructure to support all major models within the United States."
When you hold a tokenized stock through Ondo's model, the underlying share never leaves the traditional U.S. custody system.
Ondo's registered transfer agent, the company responsible for keeping official records of who owns what, creates a corresponding blockchain token backed 1:1 by that share. The token lives on Ethereum and is held by regulated custodians.
In plain terms: the real share stays in the existing financial system. The token is a digital representation of your ownership, verifiable on the blockchain.
Transfer restrictions are enforced by the broker-dealer, transfer agent, and custodian involved, the same parties that handle traditional securities today, ensuring the process stays within existing regulatory requirements.
This is where the Broadridge partnership becomes critical. Owning a tokenized stock has historically meant giving up some of the rights that come with owning the real thing, particularly the ability to vote on company decisions and receive official communications from the issuer.
Ondo's token holders get both. Through Broadridge's ProxyVote.com platform, they can participate in proxy voting and receive the same regulatory disclosures as shareholders holding through a standard U.S. brokerage account. The experience works for both custodial and synthetic tokenized securities.
"Tokenization will only scale when it delivers both innovation and investor confidence," said Doug DeSchutter, President of Broadridge's Investor Communication Solutions business.
"By enabling proxy voting, issuer communications, and regulatory disclosures for Ondo's token holders, we're living up to our promise to empower investors and issuers with the full range of trusted governance capabilities for tokenized securities."
Ondo is already the largest tokenized securities platform by total value globally. This launch extends that leadership into the U.S. market, the world's largest equity market, under a model that regulators have explicitly described and endorsed.
The move signals a maturation in how tokenized securities are being built. Rather than working around existing U.S. financial infrastructure, Ondo is working within it, bringing blockchain access to U.S. stocks without asking regulators, custodians, or investors to abandon the safeguards they already rely on.
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