The total value locked (TVL) in Ondo Finance's tokenized stock platform, Ondo Stocks, has reached $1.01 billion. This indicates that tokenized stocks are expanding into on-chain trading and derivative markets. Ondo Stocks achieved this scale within a year of its launch in September 2025 and currently offers over 440 assets. Each token is fully backed by the corresponding stock or exchange-traded fund (ETF), with assets held by a U.S. custodian broker-dealer. Ondo Stocks is a product line that allows trading of U.S. stocks and ETFs on the blockchain. Ondo Finance has also released derivative trading metrics, with the cumulative trading volume of the perpetual futures platform, Ondo Perps, exceeding $8 billion since its launch in July. The trading volume in the last 30 days has surpassed $5 billion. Ondo Perps deals with perpetual futures trading related to stocks and ETFs. The $1 billion TVL of Ondo Stocks and the $8 billion trading volume of Ondo Perps demonstrate that this market is experimenting with both held products and derivative trading.
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