Ondo Finance has hired former Invesco ETF director and Grayscale CEO John Hoffman to expand its tokenized investment products beyond stocks and Treasuries.
Hoffman joins the firm as managing director and head of product portfolios after serving as head of distribution and partnerships at Grayscale Investments, best known for its digital asset funds. Before that, he spent nearly two decades at $2.5 trillion asset manager Invesco, most recently leading the firm’s ETF and index strategy business in the Americas.
His focus will be building and distributing tokenized portfolios, including investment baskets developed with asset managers and strategies built around Ondo’s existing products.
The hiring points to Ondo’s plans to move beyond tokenized versions of individual assets towards managed investment products on blockchain rails.
“Our next step is to build the world’s most trusted platform for intelligently managed onchain investment portfolios,” Hoffman told CoinDesk in an interview.
“It took 30 years for ETFs to go from niche product to the standard vehicle,” he said. “Onchain finance will compress that timeline dramatically. The infrastructure is here and the next generation of portfolio products will be built onchain.”
