Ondo Finance has submitted a no-action request to the U.S. Securities and Exchange Commission (SEC) to integrate an Ethereum-based recordkeeping layer for its tokenized equities model.
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The request specifically concerns Ondo Global Markets (OGM), a platform providing non-U.S. investors exposure to over 200 U.S. stocks and ETFs.
Ondo seeks to record securities entitlements as tokens on the Ethereum Mainnet while keeping the official legal records and actual securities within traditional custody systems.
Purpose: The firm frames this as an operational upgrade rather than a change to securities law. It aims to improve:
Collateral monitoring and transparency.
Creation-and-redemption workflow efficiency.
Reconciliation across the OGM product stack.
Custody: Regulated custodian BitGo would hold the underlying securities entitlements.
Strategic Move: This is a targeted effort to prove that public blockchain infrastructure can be compatible with existing U.S. securities regulations.
SEC Posture: The request comes under SEC Chair Paul Atkins, whose administration has signaled a more innovation-friendly stance toward tokenization compared to previous years.
Precedent: If granted, it would establish a regulatory template for other firms in the Real-World Asset (RWA) tokenization sector.
As of April 14, 2026, the SEC has not yet issued a response to the filing.
