BlackRock Wraps a Whole Strategy in One Token as RWA Enters ‘Strategy as Token’
Today’s Focus
BlackRock tokenizes three model portfolios for Ondo, wrapping each entire strategy into a single token and opening a $9.8T model-portfolio market as tokenization shifts from “asset onchain” to “strategy as token.” Stellar captured 37% of 24h global RWA growth, BNB Chain tokenized stocks and ETFs topped $1B, and tokenized-credit holders rose +12.1%.
Industry Flash
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BlackRock and Ondo tokenize three model portfolios — strategy as token — Designed high-yield, diversified-growth and high-growth strategies for Intelligent Portfolios, each wrapped as a single onchain token spanning stocks, bonds and Bitcoin ETFs, so investors hold one token for full portfolio exposure.
Stellar took 37% of 24h global RWA growth, taking the top spot — RWA Foundation, citing Token Terminal, says the top 10 chains added $96.5M in 24h, with $36.4M flowing to Stellar; combined with BNB Chain they took 62% of inflows, while the average lockup per project exceeds $48M.
Tokenized-credit market at $6.2B, holders +12.1% to 28,840 — RWA Foundation quarterly report: market cap slipped 2.8% since July but participation expanded against the trend; Tradable, Maple and Centrifuge hold over 60% combined, with Maple adding 2,160 holders, roughly 69% of net industry growth.
Binance Research: tokenized assets at $34.18B, stocks up 390.4% YoY — September tracking shows stocks make up 13% of tracked RWA; capital activation rose from 1.95% at the start of the year to 7.54%, as onchain assets move from “holding” toward lending, liquidity pools and collateral use.
BNB Chain tokenized stocks and ETFs cross $1B, about 30% of the global market — Token Terminal data on Oct 2 put it near $1.1B, ahead of Ethereum’s $828M and Solana’s $738M; up from about 13% share in January, with roughly 1.8M addresses holding tokenized stocks.
Pendle’s RWA stack tops $1B in TVL — The project announced the milestone on Oct 1, building onchain markets for future yields on real-world assets; meanwhile Token Terminal disclosed $46.2B tokenized industry-wide, 5.8M holders and $3.6B deposited in DeFi.
Centrifuge deploys Janus Henderson and New York Life funds to Circle’s Arc chain — JTRSY, JAAA and HYB cover US Treasuries, AAA CLOs and high-yield bonds, are ERC-4626 compliant and support USDC subscriptions, with direct fund access limited to non-US professional investors.
OpenWorld to acquire AI-agent platform Blocksight to advance RWA tokenization — The AI agents cover the full RWA-onchain lifecycle, including building deals, validating asset data, onboarding investors and daily reporting, supporting the institutional-grade OpenWorld Enterprise platform.
SoFi becomes the first bank to settle with stablecoins at scale, annualized volume over $25B — It settles Mastercard debit and credit card transactions with SoFiUSD, imperceptibly for users; Visa’s stablecoin settlement has topped a $20B annualized run rate across 160+ stablecoin-linked card programs.
SEC’s five-year ‘Innovation Exemption’ opens a limited compliance path for tokenized securities — It lets qualifying venues trade tokenized NMS stocks via permissioned market makers, but with volume and symbol caps and a requirement that tokens carry identical rights to underlying shares; the IMF warns cross-jurisdiction enforcement of the token-asset legal link remains unresolved.
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