Ondo Finance executive compares tokenized assets growth to early ETF adoption

Tokenized assets see rapid growth similar to early ETFs

An executive from Ondo Finance, a company that creates tokenized assets, says the growth of these assets is following a path similar to the early days of exchange-traded funds (ETFs). Tokenized assets are digital versions of real-world assets like stocks or bonds, recorded on a blockchain—a digital ledger that tracks transactions.

John Hoffman, Ondo Finance’s managing director and head of product portfolios, said the adoption of tokenized assets is moving from early skepticism to growing acceptance, much like ETFs did over 30 years ago. Hoffman, who joined Ondo two months ago after 18 years in traditional finance, shared these observations at the Wyoming Blockchain Symposium 2026.

Key milestones in tokenized asset growth

• Ondo Finance’s platform for tokenized stocks and ETFs, called Ondo Stocks, reached $1 billion in total value locked (TVL) within eight months.
• Stablecoins—digital currencies pegged to a stable asset like the U.S. dollar—took three years to reach $1 billion in value.
• Tokenized U.S. Treasuries reached $1 billion in 18 months.
• Ondo’s perpetuals platform, which allows trading without an expiration date, has processed $9 billion in volume since launching seven weeks ago.

Ondo Finance’s tokenized products

Ondo Finance began offering tokenized U.S. Treasuries in early 2023 through its OUSG fund, which provides exposure to short-term government debt. The company now has about $2 billion in total value locked across its Treasury products. Hoffman said the rapid growth of Ondo Stocks shows there is strong demand for these products.

Ondo is also preparing to launch "intelligent portfolios," which will bundle tokenized equities into a single token. Currently, these products are only available outside the U.S., but Hoffman said new legislation like the Clarity Act could allow the company to offer them in the U.S. as well.

What is confirmed

• Ondo Finance’s tokenized stocks and ETFs platform reached $1 billion in total value locked within eight months.
• The company’s tokenized U.S. Treasuries products have about $2 billion in total value locked.
• Ondo’s perpetuals platform has processed $9 billion in volume since its launch seven weeks ago.
• John Hoffman joined Ondo Finance two months ago after 18 years in traditional finance, most recently leading Invesco’s ETF business.

What is still unclear

• The Clarity Act is mentioned as a potential pathway for Ondo to offer tokenized products in the U.S., but it is not confirmed whether the legislation will pass or when it might take effect.
• Hoffman’s comparison of tokenized assets to early ETFs is an opinion and not a confirmed trend.

Why this matters for investors and the crypto industry

The rapid growth of tokenized assets suggests that more investors are adopting these products, which could make traditional assets like stocks and bonds more accessible through blockchain technology. If legislation like the Clarity Act passes, it could open the door for more companies to offer tokenized products in the U.S., potentially increasing adoption further.

Sources

• The Block