Ondo Drops First Tokenized U.S. Equities Onchain—Micron And BlackRock ETF Finally Meet Their Mainnet 💼

Ondo Finance has executed the first live deployment of third-party tokenized U.S. securities within the existing American regulatory perimeter, bringing BlackRock's iShares Core S&P 500 ETF (IVV) and Micron Technology (MU) shares onto the Ethereum blockchain on July 4, the date the United States observed 250 years of independence. The deployment marks the first tokenization of BlackRock's IVV ETF and Micron shares onchain and is structured around the U.S. Securities and Exchange Commission's third-party custodial framework outlined in a January 2025 SEC staff statement.

Under the model, the underlying IVV and Micron shares remain held in regulated U.S. custody and never leave the traditional custody chain. Ondo's registered transfer agent, Oasis Pro, mints the tokens on Ethereum, with each token backed 1:1 by the corresponding share. Regulated custodians retain possession of the underlying securities, and financial infrastructure firm Broadridge (NYSE: BR) manages proxy voting, issuer communications, and regulatory disclosures. Token holders receive the same rights as shareholders holding through a conventional U.S. brokerage account.

The arrangement differs from prior tokenized securities offerings, which have largely been structured offshore. Ondo's approach keeps issuance, custody, and servicing inside the U.S. regulatory framework. "Ondo has built the regulatory, product, and service infrastructure to support all major models within the United States," said Ian De Bode, CEO of Ondo Finance. "Today's milestone shows we can tokenize securities inside the existing perimeter."

The launch positions Ondo Finance as the first firm to bring live third-party tokenized U.S. equities onto a public blockchain under the SEC's framework, with both IVV and MU available as onchain representations of traditional equities.