Ondo Finance has launched tokenized versions of BlackRock’s iShares Core S&P 500 ETF and Micron shares in the U.S., with Broadridge Financial Solutions providing governance support for holders.
According to a Thursday press release, Ondo’s launch covers the IVV ETF and MU stock. The company says they are the first live third-party tokenized U.S. securities issued on a public blockchain while staying within the existing U.S. regulatory and market structure.
The tokens are issued on Ethereum and are backed one-to-one by the underlying shares. However, the shares do not leave the traditional U.S. custody chain. Ondo’s registered transfer agent mints the matching tokens, while regulated custodians hold the assets.
Ondo brings tokenized securities into U.S. custody
The new structure follows a custodial model described by the U.S. Securities and Exchange Commission in January 2026. Under that model, a third party holds an issuer’s securities and issues crypto assets that represent a holder’s claim to those securities. Ondo said its tokenized IVV ETF and Micron stock are the first production launches under that model in the U.S.
This setup differs from tokenized stock products that operate outside the U.S. or need issuer approval for each security. In Ondo’s model, the underlying securities remain inside the same regulated custody system used for traditional U.S. securities.
At the same time, the tokens can move on Ethereum under transfer rules enforced by the broker-dealer, transfer agent and custodian.
Ondo said the structure gives token holders the same shareholder rights and protections that investors receive through U.S. brokerage accounts. These include issuer communications, regulatory disclosures and proxy voting. The company also said the launch expands its tokenized securities footprint into the U.S. after building a larger platform outside the country.
Broadridge adds proxy voting and disclosures
Broadridge will provide token holders with access to proxy voting and issuer communications through its ProxyVote.com platform. The service will also support regulatory disclosures, giving token holders a common governance process across synthetic and custodial 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.
He added that Broadridge will enable proxy voting, issuer communications and regulatory disclosures for Ondo token holders.
“Tokenized Securities in the U.S. are too often framed as a binary choice between competing models and tokenization providers,” said Ian De Bode, chief executive officer of Ondo Finance. “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 by providing them with the full range of trusted governance capabilities for tokenized securities regardless of how assets are structured.”
The governance layer is a key part of the product because tokenized shares need more than price exposure. Investors also need access to voting, company notices and other records tied to the underlying security. Broadridge’s role helps connect the tokenized product with tools already used in traditional capital markets.
The launch follows broader Ondo growth
The launch comes after Ondo expanded its tokenized securities activity across several blockchain and market channels. As The Coin Headlines reported on May 11, Ondo enabled 35 U.S. tokenized stocks and ETFs to bridge to Hyperliquid’s HyperEVM through Ondo Bridge, powered by LayerZero. The initial supported assets included SPY, QQQ, NVDA, TSLA and GOOGL.
Moreover, Ondo Global Markets crossed $1 billion in total value locked on May 11, becoming the first tokenized stock platform to reach that level. Ondo’s tokenized stock and ETF prices reference listed prices on the New York Stock Exchange and Nasdaq.
Ondo’s latest U.S. launch is narrower than its offshore Global Markets product but more focused on regulated custody and shareholder rights. The first products are limited to BlackRock’s IVV ETF and Micron stock. However, the structure shows how tokenized securities can exist on a public blockchain while still using U.S. custody and governance systems.
Tokenized markets gain broader attention
The announcement arrives during a busy period for tokenized stocks, ETFs and real-world assets. As reported on Wednesday, Robinhood launched Robinhood Chain, an Ethereum-compatible Layer 2 blockchain built on Arbitrum to support tokenized equities, ETFs, private assets and other onchain financial instruments.
On Wednesday, Ethereum Institutional launched as an independent non-profit backed by BitMine, SharpLink and Joe Lubin. The group said Ethereum supports about two-thirds of all tokenized real-world assets and hosts about $180 billion in stablecoins on mainnet.
Previously, we reported that Ether.fi allocated $100 million to a Plume RWA vault to give users access to tokenized institutional assets, including products linked to BlackRock and Fidelity. That report showed how tokenized traditional assets are moving into user-facing crypto products, lending tools and yield platforms.
