Ondo Finance has launched a custodial tokenized U.S. securities model on Ethereum, introducing tokenized versions of BlackRock’s iShares Core S&P 500 ETF and Micron stock within existing domestic regulatory frameworks. The deployment was announced in partnership with Broadridge Financial Solutions and is presented by Ondo as a production-ready structure for bringing traditional equities onchain.
The initial assets include IVV and MU, giving the rollout both broad index exposure and single-stock representation. According to Ondo Finance, the products are the first to implement the third-party custodial model described by the SEC in early 2026.
Custody Structure Keeps Shares Inside Traditional Rails
The system works by keeping the underlying physical shares within the U.S. regulated custody chain. Oasis Pro TA, LLC, an SEC-registered transfer agent and subsidiary of Ondo Finance, mints tokens on a 1:1 basis against those shares.
That structure means the Ethereum-based tokens represent entitlement to securities held by a third party, while the underlying shares remain inside legacy market infrastructure. The model differs from synthetic or offshore tokenized products by relying on participating broker-dealers, transfer agents and regulated custodians.
Compliance controls remain central to the design, with transfer restrictions and protocol requirements enforced through the operational loop. The goal is to combine blockchain-based representation with the investor protections and accountability standards expected in U.S. securities markets.
Broadridge Adds Proxy Voting and Shareholder Communication
A key feature of the launch is the integration of Broadridge’s ProxyVote.com platform. Through that partnership, token holders are expected to receive governance functionality similar to investors who hold shares through traditional brokerage accounts.
The supported functions include participation in proxy voting, access to issuer communications and regulatory disclosure workflows. That matters because shareholder rights are a critical test for tokenized securities that claim to mirror conventional ownership structures.
Broadridge’s role is to help bridge blockchain-based asset holding with existing investor-protection requirements. In practice, the partnership addresses one of the core questions for tokenized equities: whether onchain ownership records can coexist with established corporate governance systems.
The deployment is now live for production use, with Oasis Pro TA handling tokenization and issuance. However, the firm noted that these specific tokenization services are not currently classified as a regulated activity under its transfer agent registration.
For Ondo, the rollout represents a step toward institutional-grade onchain securities infrastructure. Further asset support may follow as governance, custody and post-trade settlement systems scale, but broader adoption will depend on liquidity, regulatory clarity and sustained participation from market infrastructure providers.
