Ondo's Tokenized Treasury Product Just Passed BlackRock's BUIDL. Is ONDO Undervalued?

Impact · against what's priced in

The news is essentially a non-event for the listed equities as the growth in tokenized assets is too small to move the needle for BlackRock and represents a baseline feature for SoFi. While Ondo's USDY product grew to $2.33 billion, the lack of token utility and significant upcoming unlock overhead continue to weigh on the ONDO token.

BLK+0.00

Already priced in

The price assumes

current record AUM of $15.34 trillion and the resulting fee revenue