Starting in early October 2026, investors outside the United States can trade the value of pre-IPO artificial intelligence (AI) company shares directly from crypto wallets 24 hours a day, seven days a week. A new platform called Ondo Private Markets launched this debut instrument to bridge private company equity to blockchain networks.
Cointelegraph reported that trading for the instrument is scheduled to go live this week. The initial product comes in the form of tokenized notes. The payout value of the notes is directly tied to the per-share value of common stock in an AI company upon the occurrence of a qualifying liquidity event. To date, Ondo has not disclosed the name of the reference AI company.
However, there is a fundamental limitation to these transactions: buyers only hold economic rights, not legal share ownership.
Why Buyers Do Not Receive Share Certificates
Ondo structured the tokenized notes to provide pure economic exposure for eligible investors. Tokenholders are not recorded as shareholders on the company’s books and hold no voting rights. The token’s value tracks the valuation of the underlying shares when the company conducts an initial public offering (IPO) or is acquired.
Eligible investors can hold the tokens in a self-custody wallet or trade them directly on secondary markets without market-hour limitations. This round-the-clock trading flexibility stands out as a key differentiator compared to traditional private equity markets, which typically require manual broker intermediaries and days-long settlement processes.
Competition to Unlock Access to Private Shares
Ondo’s move accelerates a private asset tokenization trend that is increasingly drawing attention from major financial institutions. In April, Robinhood’s venture arm invested $75 million in OpenAI common stock to provide retail investors with exposure. Meanwhile, Citi reportedly launched a blockchain marketplace for private company shares.
Ondo is no newcomer to real-world asset tokenization. Its Ondo Stocks platform, which hosts tokenized U.S. public equities and ETFs, has recorded more than $1 billion in total value locked across a catalog of over 450 stocks and ETFs. In addition, Franklin Templeton and Ondo are planning to launch tokenized ETFs that can be traded 24/7 via crypto wallets.
New Sector Plans and Liquidity Risks
Ondo Private Markets’ expansion does not stop with a single AI entity. Developers noted that upcoming portfolios will include shares in private companies across robotics, cybersecurity, biotech, and infrastructure. This diversification broadens the lineup of private assets tradable on blockchain networks.
For crypto market participants, the arrival of these instruments opens access to tech companies’ valuation growth before they go public. Yet without physical share ownership, investment outcomes depend entirely on the occurrence of a formal liquidity event and the issuer’s contractual compliance.
Reported by Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
