Ondo Finance launches tokenized version of BitGo stock post IPO

Ondo Finance has expanded its tokenized equities platform with the launch of onchain exposure to newly public BitGo stock.

Ondo Finance has introduced on-chain access to BitGo shares on the same day the crypto custodian made its public market debut.

The launch was announced by Ondo (ONDO) on Jan. 22, following BitGo’s initial public offering on the New York Stock Exchange.

BitGo IPO meets onchain distribution

The tokenized asset, known as BTGOon, provides economic exposure to BitGo’s publicly traded stock through Ondo Global Markets. The product is available on Ethereum, Solana, and BNB Chain, allowing eligible non-U.S. users to trade exposure to BitGo shares five days a week using blockchain infrastructure.

BitGo went public at a fully diluted valuation of more than $2.08 billion, pricing its IPO at $18 per share. The stock climbed as much as 35% during its first trading session, reflecting strong investor demand for crypto infrastructure companies that offer security and custody services.

Tokenizing the stock on its first day of trading shortened the gap between traditional equity markets and blockchain-based access. Rather than paying dividends directly, BTGOon reinvests them into the token while closely tracking the performance of the underlying shares.

Expanding Ondo’s tokenized equities platform

With the addition of BitGo, Ondo Global Markets continues to expand its range of tokenized U.S. equities and exchange-traded funds. Since its 2025 launch, the platform has seen over $6.4 billion in cumulative trading volume and has amassed over $500 million in total value locked.

Ondo’s total value locked has risen to over $2 billion in less than a year, according to rwa.xyz data, driven largely by tokenized U.S. Treasuries and yield products such as OUSG. The company has also expanded its multi-chain support and partnerships across the ecosystem.