Ondo Issues Custodial Tokenized IVV ETF and Micron Shares

Ondo Finance announced a U.S. custodial tokenized securities solution that issues Ethereum-based tokens representing one-to-one holdings in BlackRock’s iShares Core S&P 500 ETF (IVV) and Micron Technology (MU). Broadridge Financial Solutions will provide on-chain proxy voting and investor communications for token holders.

The tokens were minted by a registered transfer agent and are backed one-for-one by the actual securities, which remain in traditional U.S. regulated custody. Regulated custodians will hold the tokenized positions and participating broker-dealers, the transfer agent and the custodian will enforce transfer restrictions and compliance controls.

Holders of the tokens will receive the same shareholder rights and protections available to investors who hold shares through U.S. brokerage accounts, including issuer communications and the ability to vote proxies onchain via Broadridge’s ProxyVote.com platform.

Ondo described the launch as an implementation of the U.S. Securities and Exchange Commission’s January 2026 statement on tokenized securities, which outlined a third-party custodial model where a party holds issuer securities and issues crypto assets representing entitlement to those securities. Under Ondo’s structure, the underlying shares do not leave the existing custody chain while corresponding tokens are issued on the Ethereum blockchain.

Ian De Bode, chief executive officer of Ondo Finance, summarized the company’s aim: “Tokenized securities in the U.S. are too often framed as a binary choice between competing models and tokenization providers. This is a false premise.” He said Ondo built infrastructure to support multiple tokenization models in the United States and to expand access to on-chain investment options for U.S. and global investors.

Broadridge’s role focuses on governance and investor communications. The firm will make regulatory disclosures available to token holders and enable on-chain voting and issuer communications. Doug DeSchutter, president of Broadridge’s Investor Communication Solutions business, noted that providing proxy voting and disclosures is intended to deliver governance capabilities and auditability for tokenized securities regardless of how assets are structured.

The initial live deployments cover a widely held ETF and a single listed equity. Many prior tokenized securities projects operated outside U.S. jurisdiction or required direct issuer sponsorship; Ondo’s arrangement keeps custody, recordkeeping and transfer processes inside the existing U.S. regulated ecosystem while layering blockchain-based tokens on top.

Broadridge said it supports multiple tokenization approaches, including issuer-listed models and synthetic or offshore-structured tokenized securities. Market participants and regulators will monitor the launch as an example of integrating blockchain-based recordkeeping and on-chain voting with traditional custody and governance systems.