ONDO doubles in a week as BlackRock's entry reignites the RWA sector
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ONDO doubles in a week as BlackRock's entry reignites the RWA sector
Confidence in the RWA sector rises again.
Navigating Web3 tides with focused insightsAuthor: Sherl
On March 25, the RWA protocol Ondo Finance's token ONDO surged past $0.90, reaching $0.93 at the time of writing—a 29% gain over 24 hours. Besides ONDO, other RWA protocol tokens also posted strong gains.
Recent Broad Rally Across the RWA Sector
Recently, RWA sector tokens have seen broad price increases, with multiple project tokens hitting new all-time highs.
Among them, Ondo Finance’s token ONDO broke above $0.90, currently trading at $0.9050, up 22.96% over 24 hours and gaining over 110% in the past week. Ondo Finance is a Web3 services company that creates and manages institutional-grade financial products such as U.S. Treasury bonds and money market funds, building DeFi protocols around these assets to meet yield demands from institutions, DAOs, and high-net-worth individuals.
Founded by Nathan Allman in 2021, Ondo Finance has raised $24 million from investors including Pantera Capital, Founders Fund, Coinbase Ventures, and Tiger Global. Team members bring extensive experience from institutions and protocols such as Goldman Sachs, Fortress, Bridgewater, and MakerDAO.
Realio Network, a Layer1 blockchain focused on issuing and managing RWAs, saw its token RIO follow closely behind with a 108% weekly gain. Propchain, a real estate token investment marketplace, reported a 61.9% increase for its PROPC token over the past week and a 29.1% rise over 24 hours.
BlackRock's Launch of BUIDL Fund as Major Bullish Catalyst
Why has the RWA sector recently attracted capital so quickly? The community attributes this momentum to BlackRock’s launch last week of its tokenized fund, BUIDL.
On March 21, BlackRock launched its first tokenized fund issued on a public blockchain—the BlackRock USD Institutional Digital Liquidity Fund (abbreviated as BUIDL). Investors can subscribe to the fund through Securitize Markets, LLC, gaining access to dollar-denominated yields. BlackRock will distribute daily accrued dividends directly to investors’ wallets as new tokens. The fund allocates 100% of its total assets to cash, U.S. Treasuries, and repurchase agreements, enabling investors to earn returns while holding blockchain-based tokens.
Securitize, the company partnering with BlackRock on this initiative, is a major digital asset securities firm specializing in RWAs. It obtained SEC transfer agent registration in 2019 and raised $48 million in 2021 led by Blockchain Capital and Tactical Value, an affiliate of Morgan Stanley Investment Management.
In 2022, Securitize provided tokenization services for KKR’s U.S. fund; last year, it announced plans to tokenize private credit funds for asset management firm Hamilton Lane.
Therefore, the collaboration with Securitize clearly signals BlackRock’s confidence in the RWA space. As a Wall Street giant representing traditional finance, BlackRock already holds $15 billion worth of Bitcoin ETF assets. Its move into RWA marks a key strategic step beyond ETFs in embracing digital assets—and serves as a significant catalyst for the crypto industry’s RWA sector.
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