Ondo Finance has brought on John Hoffman, a former high-ranking executive at Invesco, to drive the expansion of its tokenized product lineup. Hoffman will serve as managing director and head of product portfolios, where he will lead efforts to create and distribute blockchain-based investment solutions. This move aligns with a broader trend of asset managers embracing digital versions of conventional financial instruments.
Hoffman’s role involves crafting investment baskets in partnership with other asset management firms. These baskets will be built upon Ondo’s current tokenized offerings, but will go beyond previous products that focused solely on Treasury securities and tokenized equities. The company aims to provide a wider array of onchain portfolio options for investors worldwide.
Before joining Ondo, Hoffman was head of distribution and partnerships at Grayscale Investments and spent nearly two decades at Invesco, where he focused on ETF and index strategies. His background includes significant experience in product development, distribution, and portfolio management. In an interview, he noted that the necessary infrastructure for blockchain-based investing is already in place, and that onchain finance could achieve adoption more rapidly than traditional investment products once did.
Ondo has already established a foothold in the tokenized asset space through products like OUSG and USDY, which offer blockchain-based exposure to U.S. government debt. The Ondo Global Markets platform, launched earlier this year, provides access to tokenized equities and ETFs, with over $1 billion in total value locked across roughly 250 stock and ETF products. This expansion reflects growing institutional interest in tokenized assets, with the overall market now exceeding $30 billion, according to RWA.xyz data. Industry forecasts suggest the market could grow to $5.5 trillion by 2030, driven by demand for efficient settlement and continuous market access.