Ondo Perps adds Circle, SpaceX and SanDisk tokenized stocks as collateral, expanding their use across perpetual futures and onchain finance.
Ondo Finance's tokenized version of BlackRock's iShares Core S&P 500 ETF has become the largest tokenized ETF by market capitalization, reaching $69.6 million after starting 2026 at roughly $22 million.
The competition at the top is getting hard to ignore.
The rise of IVVon highlights the growing influence of tokenized ETFs, potentially reshaping investment access and regulatory landscapes. ONDO Finance's IVVon becomes largest tokenized ETF with $70M market cap.
One trader used $2,328,595.73 to buy 3,167.53 QQQon in one Ethereum transaction this week, a seven-figure purchase that Ondo Finance pointed out as proof that tokenized stocks are no longer in the experimental phase.
Tokenized stock market share has grown to 15%, up 3x from the start of the year, with the total market cap around $2.8 billion.
Ondo's tokenized-stock market grows in scale and activity as Binance captures more trading outside traditional market hours.
At present, Ondo Finance (ONDO) is changing hands at $0.3279, accompanied by approximately $63 million in 24-hour trading activity and maintaining a market capitalization of $1.59 billion. The digital asset has been navigating within a downward-sloping channel pattern and is currently evaluating a significant demand area around the $0.30 mark.
The high cumulative long leverage below the current market prices means one thing for ONDO in the near-term.
Ondo Perps has surpassed $8 billion in cumulative perpetual futures volume only weeks after launching publicly. The platform lets non-U.S. traders use tokenized stocks and other assets as collateral, with leverage of up to 20x. Rising activity shows how tokenized equities are becoming usable financial infrastructure across trading, lending, and decentralized finance.
Saturn has partnered with Ondo to add STRCon and other tokenized securities to its STRC-based products while securing an undisclosed strategic investment from the tokenization company. Saturn said in an Aug.
ONDO faces continued exchange-bound supply as weakening participation leaves $0.3101 increasingly important for buyers.