A trader has described the Ondo Finance (ONDO) token as “massively undervalued,” arguing that its price does not reflect the adoption already underway. ONDO traded at $1.03 on Sept.15, down 3.23% in 24 hours. Despite more than $1.44 billion in total value locked (TVL) and institutional partnerships, the ONDO price performance has lagged.
The trader compared ONDO to other infrastructure tokens that traded flat until their platforms became essential. In his view, once usage scales, such tokens reprice sharply rather than move slowly. For ONDO, he suggested that moment has not yet been priced in.
On Sept. 3, Ondo Finance launched Ondo Global Markets, a platform offering more than 100 U.S. stocks and ETFs on Ethereum. These tokenized assets come with full redemption rights. This means that each token is backed 1:1 by the underlying equity and can be redeemed at any time.
Unlike traditional brokers such as Robinhood or Fidelity, Ondo’s tokenized stocks can trade 24/7 and integrate directly with decentralized finance (DeFi) applications. That gives investors both the flexibility of crypto markets and the protections of traditional finance.
This launch marked one of the first large-scale attempts to bridge regulated equities with blockchain settlement in a way that institutions can use.
Fidelity Anchors First Tokenized Fund With OUSG, BlackRock Endorses ETFs
Institutional adoption soon followed. Fidelity Investments anchored its first tokenized money market fund (FDIT) using ONDO’s flagship product, OUSG, as the sole and largest investor. That move put real capital — not just pilot testing — into ONDO’s system.
At the same time, BlackRock CEO Larry Fink said ETFs will drive all future tokenization in global markets. That statement directly aligned with ONDO’s launch of tokenized ETFs. It also gave the company’s strategy credibility from the world’s largest asset manager.
Ian De Bode, Ondo’s Chief Strategy Officer, also appeared on the floor of the New York Stock Exchange. He pointed to the rapid growth of tokenized treasuries — from $1 billion to $7 billion in 18 months — as a model for what tokenized stocks and ETFs could achieve.
Governance Token Seen as Key as Institutions Adopt Ondo’s Rails
Despite these institutional links, ONDO’s token price has not moved in line with its adoption. The trader who called it undervalued argued that this disconnect is normal for infrastructure plays. They take time to be recognized. However, when usage becomes clear, prices often reprice sharply rather than rise step by step.
For ONDO holders, the token represents governance rights over the protocol that runs this tokenized system. As more institutions use ONDO’s rails to tokenize assets like stocks, bonds, and treasuries, the token could gain importance because it controls the infrastructure.
The trader said this is why ONDO’s current value does not match its role in the market. He noted that while charts show underperformance, the underlying system is already live, capital is flowing through it, and major institutions are building on top of it.
