Overview
- Ondo announced on June 11 that it has hired John Hoffman, a former Invesco ETF executive and Grayscale distribution lead, to serve as managing director and head of product portfolios and to lead design and distribution of tokenized investment baskets.
- Reporting contains a discrepancy over the hire’s name, with several outlets naming John Hoffman and one outlet reporting Eric Pollackov, and Ondo’s public statements and multiple news reports back the Hoffman attribution.
- The hire marks a strategic move from tokenized Treasuries and single equities toward managed, onchain portfolios built around Ondo’s existing products such as OUSG and USDY.
- Ondo Global Markets says it has passed $1 billion in total value locked across more than 250 stocks and ETFs, and the firm has partnerships with traditional managers including a March 2026 deal to tokenize five Franklin Templeton ETFs.
- The shift could speed institutional adoption by shortening settlement times and enabling 24/7 trading, but tokenized securities still face legal uncertainty and potential brokerage-style regulation that could raise compliance costs and alter business models.