Ondo Intelligent Portfolios (seven portfolio tokens, ”on” tickers)
BSC MAG7Xon: can pause transfers, claw back, gate who may hold, mint, change the code. Keys: compliance module 0x76be…50d0.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Ondo Global Markets (Ondo Stocks) Not approved
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
A structured note of Ondo Global Markets (BVI) Limited, the same BVI company that issues the stock tokens; the holder owns the note and has no ownership of the basket or the shares behind it.
“Ondo Intelligent Portfolio tokens are structured notes issued by Ondo Global Markets (BVI) Limited (known as the ”Issuer”), a bankruptcy-remote special purpose vehicle (SPV) organized in the British Virgin Islands (BVI)”
Ondo docs: Intelligent Portfolios legal and regulatory · Opening paragraph · words found 2026-09-25
- Who may hold it
Non-US persons outside the US only; the EEA, UK and Switzerland admit qualified or professional investors only.
“Ondo Intelligent Portfolios are offered only outside the United States and only to eligible non-U.S. persons.”
Ondo: Intelligent Portfolios product page · FAQ: Who is eligible to mint and redeem Ondo Intelligent Portfolios? · words found 2026-09-25
- First purchase minimum
None stated for the portfolios. The Ondo Stocks page they defer to sets $1 to mint or redeem directly, and the partner FAQ says to read each product page.
“Available globally (outside restricted jurisdictions), without minimums, lockups, or intermediaries”
Ondo: Intelligent Portfolios product page · FAQ: How is this different from buying an ETF or model portfolio? · words found 2026-09-25
- Account types
Only institutions can onboard today; individuals join a waitlist. Any wallet may hold.
“At present, onboarding is open to institutional participants only.”
Ondo Stocks docs: Onboarding & KYC · Who can onboard today? · words found 2026-09-25
- Who it may be transferred to
Tokens move freely on chain outside the US, including to wallets that never passed Ondo KYC.
“Ondo Intelligent Portfolio tokens are freely transferable onchain outside the US across supported blockchains like Ethereum and BNB Chain, subject to certain jurisdictional and other restrictions.”
Ondo docs: Intelligent Portfolios transferability · Are Ondo Intelligent Portfolio tokens transferable? · words found 2026-09-25
- How a holder redeems
Instant, but only 9:30 a.m. to 3:45 p.m. ET on US trading days, and only while every constituent is open; paid in stablecoins at current weights.
“Ondo Intelligent Portfolio tokens are generally available to mint and redeem during regular US market hours from 9:30:00am ET to 3:45:00pm ET”
Ondo docs: Intelligent Portfolios market hours · When is the platform open for minting and redeeming Ondo Intelligent Portfolio tokens? · words found 2026-09-25
- Who keeps the official record
Issued under the same Liechtenstein base prospectus as the stock tokens, whose Final Terms name the token contract as the securities ledger; we found no Final Terms for a portfolio token.
“Ondo Intelligent Portfolios are tracker certificates issued under the same base prospectus as other Ondo Stocks.”
Ondo partner docs: Intelligent Portfolios user FAQ · 2. How are Ondo Intelligent Portfolios different from ETFs and single tokenized stocks? · words found 2026-09-25
- What the issuer says it can freeze or take back
No Ondo document states a freeze or forced-burn power. The contracts we read on 2026-09-25 carry a pause switch, a role-gated burn and a compliance contract that gates transfers; the issuer says only that it may refuse a redemption.
“In the event of a redemption, the Issuer may refuse any redemption to a holder of any securities if the Issuer suspects or is advised that the redemption may be non-compliant with applicable laws, rules or regulations”
Ondo Stocks docs: Secondary Market Restrictions · Fourth paragraph · words found 2026-09-25
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | reinvested |
| SIPC coverage of the wallet | No |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Token | Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|---|
| MAG7Xon | Ethereum | No | Yes | Yes | Yes | Yes | A 4-of-7 multisig holds the compliance owner key. Code changes must pass through a timelock with a 2-hour delay. |
| MAG7Xon | BSC | No | Yes | Yes | Yes | Yes | compliance module 0x76be…50d0 |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-25. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Token | Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|---|
| MAG7Xon | Ethereum | Beacon owner | change the code | a timelock with a 2-hour delay | 0x3715…34f1 |
| MAG7Xon | Ethereum | Compliance owner | decide who may hold, grant and revoke these powers | a 4-of-7 multisig | 0x71a4…1646 |
| MAG7Xon | Ethereum | Minter role | mint new tokens | a contract | 0x54ac…d17c |
| MAG7Xon | Ethereum | Admin role | grant and revoke these powers | a timelock with a 2-hour delay | 0x3715…34f1 |
Ketju could not read the role holders on BSC from the public event indexes on its last check. The table shows only what Ketju confirmed.
Ethereum MAG7Xon: 3 contract reads, 4 functions in verified source, 2026-09-25
- eip1967.beacon=0x4599aa6779223849e5058f917ed89c83da0864cd
- 0x4599aa6779223849e5058f917ed89c83da0864cd.implementation()=0xc397db753e1395e8c11f0981a28a5085282327d1
- compliance()=0x54a8757c2fef8649830b158a8c19d3a670e80318
- compliance in verified source 0xc397…27d1
- setTokenPauseManager in verified source 0xc397…27d1
- burn in verified source 0xc397…27d1
- mint in verified source 0xc397…27d1
BSC MAG7Xon: 5 contract reads, 4 functions in verified source, 2026-09-25
- eip1967.beacon=0x16ba2c6cdcdca14a6e071255a7cf28318ba193d8
- 0x16ba2c6cdcdca14a6e071255a7cf28318ba193d8.implementation()=0xfa78b1df703a991079907ee50910d6e2aff8e7b4
- compliance()=0x76be569c94c39a2e2492de2f4d1c253f348250d0
- codehash(0x50436ec45316a98e72b03ead5752e8543f11ec09)=0x8f8df2234b04b41715c7e2d23e7bc35450100c85469bc542e15c55b28c61c46b=codehash(1:0xee69f45715bfa6a4cffe2bb7e0d71093b9d58705)
- codehash(0xfa78b1df703a991079907ee50910d6e2aff8e7b4)=0xc13c0e74995da53ce067bf3fe1e33dbff61ee8947472dfca5804d7d2fb80bb3d=codehash(1:0xc397db753e1395e8c11f0981a28a5085282327d1)
- abi:twin:56:0xfa78b1df703a991079907ee50910d6e2aff8e7b4=1:0xc397db753e1395e8c11f0981a28a5085282327d1#compliance
- abi:twin:56:0xfa78b1df703a991079907ee50910d6e2aff8e7b4=1:0xc397db753e1395e8c11f0981a28a5085282327d1#setTokenPauseManager
- abi:twin:56:0xfa78b1df703a991079907ee50910d6e2aff8e7b4=1:0xc397db753e1395e8c11f0981a28a5085282327d1#burn
- abi:twin:56:0xfa78b1df703a991079907ee50910d6e2aff8e7b4=1:0xc397db753e1395e8c11f0981a28a5085282327d1#mint
Where it trades
| Venue | Kind |
|---|---|
| Ondo app (app.ondo.finance) and PortfolioTokenManager contracts on Ethereum and BNB Chain | issuer primary |
| Third-party exchanges, wallets and DeFi protocols on Ethereum and BNB Chain; Ondo names no venue | dex |
Redemption
| Route | Cutoff | Settlement | Settles in |
|---|---|---|---|
| Redeem with the issuer in its window | 15:45 America/New_York | Instant atomic mint or redeem against an Ondo quote through PortfolioTokenManager, 9:30 a.m. to 3:45 p.m. ET on NYSE trading days only; Ondo pauses a whole portfolio whenever any constituent is halted, around ex-dividend dates, and when its risk limits are reached. Mints go in at base weights and redemptions come out at current weights. Paid in USDC on Ethereum and USDT on BNB Chain. Each constituent’s Ondo Stocks mint and redeem fee applies, and the quote carries a spread Ondo keeps. | USDC, USDT |
| Secondary market only; no issuer redemption | Holders without Ondo onboarding sell on exchanges or DEXs around the clock; the issuer redeems only after KYC, and says spreads widen when US markets are closed | USDC, USDT |
- Ondo publishes Final Terms or an ISIN for any portfolio token, or names the securities ledger contract for one
- A model provider changes, BlackRock ends the arrangement, or a dynamic-weight portfolio launches (all seven are fixed-weight today)
- Solana goes live (the product page says coming soon), or a chain is added or dropped on docs.ondo.finance/addresses
- A holder wallet is blocked, a token is paused outside the 9:30 to 3:45 ET window, or the compliance contract, proxy admin, or implementation changes on Ethereum or BNB Chain
- The service fee moves from 0.09% (Ondo portfolios), 0.35% (BLKHIon) or 0.49% (BLKDIGon, BLKGRWon), or the first-period fee waiver ends without a product-page notice
- The feed’s totalSupply for any token drifts from the summed Ethereum and BNB Chain supply, or an Ankura attestation shows basket backing below token supply
- Ondo opens direct onboarding to individuals, or any offer to US persons
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote, since a fund of this kind accrues a few basis points a day. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has not revised this file since filing it. If Ketju revises it, the earlier version stays as published, with the reason.
| Date | Change |
|---|---|
| 2026-09-25 | Filed. |
Sources
- Ondo docs: Intelligent Portfolios overview · primary · accessed 2026-09-25
Supports: issued by Ondo Global Markets (BVI) Limited, economic exposure only, not funds or ETFs, fully backed by a basket of Ondo Stocks tokens, model providers set weights, quarterly rebalance, 9:30 to 3:45 ET mint and redeem window, Ethereum and BNB Chain, non-US investors, prospectus available to qualified purchasers - Ondo docs: Intelligent Portfolios legal and regulatory · primary · accessed 2026-09-25
Supports: structured notes, BVI special purpose vehicle, same issuer as Ondo Stocks - Ondo docs: Intelligent Portfolios eligibility · primary · accessed 2026-09-25
Supports: same eligibility as Ondo Stocks, secondary holding confers no right to mint or redeem - Ondo docs: Intelligent Portfolios onboarding and KYC · primary · accessed 2026-09-25
Supports: same onboarding as Ondo Stocks, no second onboarding for Ondo Stocks accounts - Ondo docs: Intelligent Portfolios investing and redeeming · primary · accessed 2026-09-25
Supports: works as Ondo Stocks, mints at base weights, redemptions at current weights - Ondo docs: Intelligent Portfolios transferability · primary · accessed 2026-09-25
Supports: freely transferable outside the US, ERC20, DeFi collateral - Ondo docs: Intelligent Portfolios fees and taxes · primary · accessed 2026-09-25
Supports: annual service fee accrued in the price, constituent mint and redeem fees, spread retained, 30% withholding for the BVI issuer - Ondo docs: Intelligent Portfolios available assets · primary · accessed 2026-09-25
Supports: seven portfolios, tickers and model providers, constituents include crypto ETFs - Ondo docs: Intelligent Portfolios technical · primary · accessed 2026-09-25
Supports: Ethereum and BNB Chain, audits - Ondo docs: Intelligent Portfolios market hours · primary · accessed 2026-09-25
Supports: 9:30 to 3:45 ET window, NYSE holidays, halts when any constituent is halted, risk-control halts, no Off-Hours session, transfers 24/7 - Ondo docs: Intelligent Portfolios model providers · primary · accessed 2026-09-25
Supports: BlackRock and Ondo as model providers, model provider has no duty to holders, Ondo runs trades, rebalancing, mint and redeem - Ondo docs: Intelligent Portfolios token quote and pricing · primary · accessed 2026-09-25
Supports: per-token value formula, total return through constituents, quote differs from displayed price, backtested pre-inception performance - Ondo docs: Intelligent Portfolios rebalancing and reconstitution · primary · accessed 2026-09-25
Supports: quarterly rebalance, reconstitution at provider discretion, fixed asset sets - Ondo docs: Intelligent Portfolios corporate actions · primary · accessed 2026-09-25
Supports: handled at constituent level, mint and redeem pauses, delisted constituent removed - Ondo docs: comparison to ETFs and tokenized assets · primary · accessed 2026-09-25
Supports: not a fund, no fund manager, administrator or custodian in that capacity, fractional amounts - Ondo partner docs: Intelligent Portfolios user FAQ · primary · accessed 2026-09-25
Supports: tracker certificates under the same base prospectus as Ondo Stocks, EEA and UK qualified investors, Swiss professional clients, fixed-weight portfolios today, minimum on each product page, no cash dividends - Ondo partner docs: token registry (459 assets, 7 portfolios) · primary · accessed 2026-09-25
Supports: Ethereum and BSC contract addresses for the seven portfolio tokens, CoinGecko and CMC ids - Ondo docs: smart contract addresses · primary · accessed 2026-09-25
Supports: PortfolioTokenManager on Ethereum (USDC) and BNB Chain (USDT), PortfolioTokenLimitOrder - Ondo Stocks docs: Eligibility · primary · accessed 2026-09-25
Supports: US-person bar, prohibited jurisdictions, professional-investor jurisdictions, sole-discretion bar - Ondo Stocks docs: Legal & Regulatory · primary · accessed 2026-09-25
Supports: structured note, Swiss-law Sales Terms, Regulation S only, no shareholder rights, issuer ownership - Ondo Stocks docs: Investing & Redeeming · primary · accessed 2026-09-25
Supports: $1 minimum for Ondo Stocks, offering documents only after onboarding - Ondo Stocks docs: Onboarding & KYC · primary · accessed 2026-09-25
Supports: institutions only today, Persona KYC, Sales Terms signing, wallet allowlist - Ondo Stocks docs: Secondary Market Restrictions · primary · accessed 2026-09-25
Supports: KYC before redemption, issuer may refuse a redemption, limited recourse to collateral, Zurich arbitration - Ondo Stocks docs: Trust & Transparency · primary · accessed 2026-09-25
Supports: Ankura security interest, daily attestations, US broker-dealer custody, Flux Finance guarantee - Ondo blog: Introducing Ondo Intelligent Portfolios (2026-09-24) · primary · accessed 2026-09-25
Supports: launch date, three BlackRock portfolios first, fixed weights and schedule, plans for perps, options and crypto in baskets - PR Newswire: Ondo Launches Intelligent Portfolios, Powered by BlackRock (2026-09-24) · primary · accessed 2026-09-25
Supports: issued by Ondo Global Markets, tokenized by Ondo Finance, BlackRock quote, not registered under the 1933 Act, FMA base prospectus - Ondo: Intelligent Portfolios product page · primary · accessed 2026-09-25
Supports: not available in the US, non-US persons only, no minimums, base weights, Solana coming soon, sponsored and administered by Ondo - Ondo app feed: portfolios (per-token value, supply, service fee, inception date) · primary · accessed 2026-09-25
Supports: navUsd and totalSupply per token, service fee 0.09% Ondo, 0.35% BLKHIon, 0.49% BLKDIGon and BLKGRWon, fee waived 30 days or 3 months, MAG7Xon live 2026-08-12, others 2026-09-16, target weights