过去几年,"机构入场"大概是 crypto 里被讲得最多的一个词。 每轮周期都有人提。 但大多数时候,它停在 thesis 层面,落不到一个具体的产品上。
今天看到
@Ondo 的发布,我的第一反应是:这次终于有具体的应用场景了。
Ondo 推出了 Intelligent Portfolios。 首批三个投资组合由贝莱德(BlackRock)提供支持,基于贝莱德为 Ondo 制定的投资组合策略。
自己搭一个分散的组合,其实挺累的。 买哪些资产,各配多少,什么时候再平衡。 每一步都要判断,还很容易被市场情绪带着走。
Intelligent Portfolios 的思路,是把这些事打包进一枚代币:
一次铸造或赎回,就能获得一篮加权代币化资产的敞口
再平衡写进智能合约,按预设规则自动执行
持仓、权重和每一次调仓,链上实时可见
代币可自由转让,可在钱包、交易所及 DeFi 之间流转
我个人觉得最值得注意的是透明度。 传统基金的持仓,通常要等定期披露才看得到。 这里每一次调仓都在链上,随时可以查。
分工也非常明确,贝莱德制定策略,Ondo 发行并运营这些链上组合。 一边是财富管理的经验,一边是链上的基础设施。
《华尔街日报》这次也独家报道了这件事情,传统金融媒体的报道也说明链上与传统的结合进入到了大众的视野。
以前,这类专业构建的组合,基本要通过券商账户和传统基金结构才能接触到。 现在,位于许可司法管辖区内的符合条件的非美国投资者,可以直接用自己手上的钱包、交易所和 DeFi 应用获取。
还有一点我比较好奇。 组合变成代币之后,它本身就成了一个可以拿来搭东西的模块。 能不能做抵押品,能不能被放进别的产品里,还要看后面生态怎么接。
一整个组合,一枚代币。 DeFi 接下来会拿它搭出什么?
Let's see.
Introducing Ondo Intelligent Portfolios, the first three portfolios powered by BlackRock.
Ondo Intelligent Portfolios introduces a new onchain product category: curated investment portfolios delivered as single onchain transferable tokens.
The first three portfolios are based on portfolio strategies developed by BlackRock for Ondo, marking the first time eligible onchain investors can access exposure to such strategies through a single token.
1. BLKHIon: Ondo High Income Powered by BlackRock
2. BLKDIGon: Ondo Diversified Growth Powered by BlackRock
3. BLKGRWon: Ondo High Growth Powered by BlackRock
Diversified, professionally constructed strategies have historically required brokerage accounts and traditional fund structures. Now, delivered as peer-to-peer transferable tokens from Ondo, these onchain portfolios become accessible to eligible non-US investors in permitted jurisdictions through the wallets, exchanges, and DeFi applications they already use.
“Tokenization creates new ways for portfolio strategies to be delivered through digital infrastructure. Diversified portfolio strategies can be incorporated into tokenized investment products, enabling eligible investors to access diversified allocations through a single instrument. It shows how established portfolio construction approaches can be delivered through new channels and technologies.” - Lisa O’Connor, Global Head of the Model Portfolio Solutions team and Co-CIO for Global Solutions within the Multi-Asset Strategies group at BlackRock
Ondo Intelligent Portfolios can unlock novel capabilities:
→ Programmatic rebalancing
→ Full composability with DeFi
→ Complete transparency onchain
→ Multiple asset classes in a single token
This is just the start for Ondo Intelligent Portfolios. The infrastructure is now in place for leading financial institutions to bring their asset allocation expertise onchain.