ChainCatcher, citing a CoinDesk report, said Ondo Finance has hired John Hoffman, a former Invesco ETF executive and managing director at Grayscale. The appointment is aimed at expanding Ondo Finance’s tokenized investment products beyond stocks and Treasuries.
Hoffman will serve as managing director and head of portfolio products. His role will focus on building and distributing tokenized portfolios, including investment portfolios developed together with asset management firms, as well as strategies built around Ondo Finance’s existing products.
The move shows that Ondo Finance plans to go beyond tokenized versions of single assets and move toward managed investment products on blockchain rails. The report also noted that the tokenized asset market has already exceeded $30 billion in size. Tokenized investment products generally present traditional assets or portfolios in an on-chain format and use blockchain infrastructure for recordkeeping and transfer.