Ondo tokenizes pre-IPO AI exposure for investors — SkimNews
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- Ondo Finance launched "Ondo Private Markets," offering tokenized notes tied to an unnamed pre-IPO AI company whose payouts are linked to value realized per common share at a qualifying liquidity event — providing economic exposure without direct share ownership.
- Eligible investors can hold the notes in self-custody wallets or trade them on secondary markets around the clock, with the first notes expected to start trading this week.
- Ondo plans to follow with tokenized products tied to companies in robotics, cybersecurity, biotech, infrastructure, and other sectors.
- Ondo Stocks, the platform's tokenized US stocks and ETFs arm, holds more than $1 billion in total value locked and offers more than 450 tokenized stocks and ETFs.
- Robinhood's venture fund invested $75 million in OpenAI common stock in April to give retail investors exposure through its publicly traded closed-end fund.
- Citi was reported in June to be launching a blockchain marketplace for private-company shares.
Why it matters: Ondo's move extends its existing $1B+ tokenized-stocks book into pre-IPO territory, where competitors are circling: Robinhood's fund took $75M in OpenAI common stock in April, and Citi was reported in June to be launching a blockchain private-share venue. Eligible investors now get 24/7 secondary trading on a note whose underlying company is undisclosed at debut.
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