Ondo Finance hires former Invesco ETF executives to develop on-chain investment products

According to CoinDesk, Ondo Finance has hired former Invesco ETF executive and Grayscale Managing Director John Hoffman, aiming to expand its tokenized investment products beyond stocks and government bonds.

John Hoffman will serve as Managing Director and Head of Portfolio, focusing on building and distributing tokenized portfolios, including portfolios co-developed with asset management companies and strategies built around Ondo's existing products.

This move indicates that Ondo Finance plans to go beyond tokenized versions of single assets and shift towards custodial investment products on the blockchain. Currently, the market size for tokenized assets has exceeded $30 billion.