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Ondo's tokenized bets show up in the data

2026-07-22 12:17:40
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ONDO tokens rose by about 27% weekly and about 13% daily. The trading price was close to US$0.40, and the 24-hour trading volume surged by more than 150% to US$237 million. The catalyst behind it is clear: Ondo Finance has just achieved the most direct connection with the traditional market infrastructure of the United States.

DTCC Bridge

On July 15, 2026, Ondo Finance launched the first batch of tokenized stock representatives supported by DTC tokenized interests generated through DTCC tokenization services. Specifically, these interests have the same CUSIP code and ticker code as the underlying securities, meaning they represent a direct, traceable association with the real stock rather than a composite copy.

The first two assets to adopt this model are Circle's publicly traded shares (CRCL) and the SPDR S & P 500 ETF trust (SPY), denoted on the chain as CRCLon and SPYon respectively. Ondo has joined more than a dozen leading traditional financial and DeFi institutions, including BlackRock, JPMorgan Chase, Goldman Sachs, Nasdaq and the New York Stock Exchange, to participate in DTCC's largest tokenization program to date.

The complete DTCC tokenization service is planned to be launched in October 2026, when eligible participants can begin converting securities into large-scale applications in the production environment.

Agreement momentum behind price fluctuations

This round of gains is not based solely on market sentiment. Ondo Finance entered this moment with a solid foundation of considerable scale. Its tokenized stock platform Ondo Global Markets exceeded US$1 billion in less than eight months after its launch. According to RWA.xyz, Ondo said the platform currently accounts for more than 70% of the tokenized stock issuance market.

The total locked value of the entire agreement currently stands at approximately US$3.54 billion, more than doubling since the beginning of 2026. Some price movements reflect a wider rotation of market funds to real-world asset tokens, a theme that has gradually emerged across industries. However, Ondo's cooperation with DTCC provides $ONDO with specific and reasonable reasons to lead the gains.

This change shifts Ondo's equity products to proxies associated with securities held by DTC, rather than just synthetic exposure, connecting the product to existing securities infrastructure and expanding the use of these assets on exchanges, wallets and DeFi platforms.

CEO Ian de Bode laid out this ambition bluntly: "Today's collaboration with DTCC demonstrates that Ondo Stocks 'infrastructure is specifically built to interoperate with, rather than compete with, institutional market infrastructure."

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