Ondo Finance has appointed former Invesco ETF and Grayscale executive John Hoffman as managing director and head of product portfolios, signaling the company's strategic shift from tokenizing individual assets to building managed onchain investment portfolios. Hoffman will oversee the development and distribution of tokenized portfolios, including investment baskets created with asset managers. The move comes as the tokenized asset market surpasses $30 billion, with projections reaching trillions in the next decade. Ondo, known for tokenized Treasury products OUSG and USDY, recently launched Ondo Global Markets for tokenized equities, which has surpassed $1 billion in total value locked. The appointment underscores growing institutional interest in blockchain-based finance, as traditional giants like BlackRock and JPMorgan also explore tokenization.

Key facts

• John Hoffman appointed managing director and head of product portfolios at Ondo Finance.
• Ondo shifts from tokenized stocks/Treasuries to managed onchain portfolio products.
• Tokenized asset market surpasses $30 billion, Citi projects $5.5 trillion by 2030.
• Ondo's tokenized equity platform Ondo Global Markets exceeds $1 billion in TVL.
• Hoffman: 'Onchain finance will compress ETF adoption timeline dramatically.'

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