Ondo's tokenized Treasury product USDY has grown to about $2.33 billion, slightly above the $2.2 billion held by BlackRock's BUIDL, yet the ONDO token fell 9% in the week ending October 17, 2026 and trades around 44 cents. The article explains that USDY pays yield to its holders, while ONDO is mainly a governance token with no role in USDY creation or redemption. Ondo is a private company that does not disclose how much of its yield-gap revenue it earns, and its US expansion, including FINRA approval for Oasis Pro Markets on July 23, settles in fiat or stablecoins rather than ONDO. The article also notes that BlackRock still earns fees as Ondo grows, and that USDY's lead over BUIDL is narrow. ONDO's market cap is about $2.13 billion, while its fully diluted valuation of about $4.38 billion, including all 10 billion tokens, makes it appear more affordable than USDY.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Ondo’s Tokenized Treasury Product Just Passed BlackRock’s BUIDL. Is ONDO Undervalued?
Read the original on Yahoo Finance ↗
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Related tickers and likely impact
ONDO/USDT
▲ Likely positiveOndo
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $2.1B |
| Close on 10/17/2026 | 0.43890 |
| Change that session | -3.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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