@OndoFinance has launched MAG7X, an index token that bundles the seven largest US technology companies with two of @BlackRock's crypto exchange-traded funds: the iShares Bitcoin Trust (IBIT)
@OndoFinance has launched MAG7X, an index token that bundles the seven largest US technology companies with two of @BlackRock's crypto exchange-traded funds: the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA). The product gives holders exposure to $BTC and $ETH funds alongside Big Tech equities through one onchain asset.
The token can be created, redeemed and traded around the clock on networks including @Ethereum, @BNBChain and @Solana, so it is not tied to stock exchange opening hours. It is built on the Ondo Stocks infrastructure and can be accessed through self-custody wallets and decentralized platforms such as 1inch and MetaMask.
MAG7X sits within Ondo Intelligent Portfolios. Ondo expanded that lineup from three to seven products on Oct. 1, adding strategies focused on the Magnificent 7, artificial intelligence and targeted income. The Magnificent 7 and crypto product, listed as MAG7Xon, combines exposure to the Magnificent 7 technology companies with crypto assets. Each portfolio token represents exposure to a weighted basket of assets with onchain visibility into holdings, weights and rebalances, and investors can mint, redeem or transfer the single token without managing individual positions.
The portfolios have been rolling out across chains. The Solana launch extends a product line previously introduced on Ethereum and BNB Chain. Ondo already has more than $500 million in total value locked across tokenized assets on Solana, according to its release. That figure covers Ondo's broader tokenized asset presence, not the new portfolio lineup alone.
The underlying assets come from Ondo's tokenized equities platform. Ondo Stocks, formerly Ondo Global Markets, tokenizes US stocks, ETFs and other assets, issued on blockchain networks and backed 1:1 by the underlying asset. The tokens give holders economic exposure to the underlying asset's price rather than legal ownership. Ondo said in May that the platform had passed $1 billion in total value locked, a first for a tokenized stocks platform.
Access is restricted in some markets. Ondo's platform is aimed at eligible non-US investors, and US persons are restricted by securities rules. Investors should check eligibility in their jurisdiction before buying.
The launch reflects a wider push to package traditional and crypto assets in a single tradable token. Coinbase has also moved in this direction: it announced futures trading on a Mag7 plus crypto equity index that blends top tech stocks with BlackRock's Bitcoin and Ethereum ETFs.
Sources
Coinspress: Ondo Expands Tokenized Portfolios With AI and Magnificent 7 BetsPR Newswire: Ondo Global Markets Surpasses $1 Billion in Total Value LockedMetaMask: What is Ondo Stocks?
