Ondo sees tokenization adoption accelerating as U.S. regulatory path opens

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Ondo tokenization and U.S. regulation

Highlights

Ondo Finance has achieved about $2 billion in total value locked in tokenized Treasuries and $1 billion in TVL for tokenized stocks and ETFs in eight months.
Adoption of tokenized assets is accelerating, as evidenced by Ondo's perpetuals platform generating $9 billion in notional volume over the past seven weeks.
Ondo's tokenized portfolios are currently accessible only outside the U.S., with domestic expansion hinging on regulatory clarity such as the Clarity Act.

Tokenization growth tracks early ETF development

The Block reports that John Hoffman, managing director and head of product portfolios at Ondo Finance, says tokenized assets are following a trajectory similar to the early years of ETFs, when investors initially questioned the technology and its practical use.

Speaking at the Wyoming Blockchain Symposium 2026, Hoffman says the market is revisiting a familiar cycle in which a new financial structure gradually proves its value and gains acceptance. He joined Ondo a little over two months ago after 18 years in traditional finance, most recently leading Invesco's ETF business in the Americas.

Ondo began offering tokenized U.S. Treasuries in early 2023 through OUSG, its institutional fund tied to short-term government debt. Hoffman says the firm now has about $2 billion in total value locked across its Treasury products, while Ondo Global Markets, its platform for tokenized stocks and ETFs, reached $1 billion in TVL within eight months.

U.S. legislation remains key for expansion

Hoffman says the pace of adoption is speeding up across tokenized asset categories. He compares the timeline with stablecoins, which he says took three years to reach $1 billion, while tokenized Treasuries took 18 months and Ondo Stocks reached that level in eight months, which he views as evidence of product-market fit.

He adds that Ondo's perpetuals platform has generated about $9 billion in notional volume since launching seven weeks ago. The firm is also preparing to launch what it calls intelligent portfolios, which would package tokenized equities into a single token.

Those offerings are currently available only outside the U.S. Hoffman says firmer regulatory clarity, including legislation such as the Clarity Act, could create a pathway for Ondo to offer the products in the U.S. as well.

Trump’s push for a “fair” version of the Clarity Act, following a White House meeting with crypto executives, helped spark a rebound across digital assets, with Bitcoin climbing above $70,000 and crypto-linked stocks jumping. In our earlier coverage, we noted that investors are treating the bill as a potential regulatory turning point, even as ethics concerns and political divisions in Washington keep its path to passage uncertain.

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