Ondo Short-Term US Government Treasuries

AUM: $312.9M
16D change: -4.4%
Yield · 30-day net: 4.04%
NAV: 116.7308
Expense ratio: 0.15%
Minimum: $100.0K
Redemption: Intraday
Launched: 30 Jan 2023

Depends onSecuritize Issuance & Transfer Agency Coinbase Custody Trust Fireblocks Custody & Transfer Infrastructure Chainlink Proof of Reserve & NAVLink LayerZero Omnichain Fungible Token

Field coverage 96%Primary-source or on-chain verified 33% of tracked metrics2/2 source documents analyst-verifiedLast reconciled 30 Sept 2026

Overview

What this product is

A fund-of-tokenized-funds. Rather than holding Treasuries directly, OUSG allocates into other issuers' tokenized funds and adds 24/7 instant mint and redemption on top. Investors gain liquidity but take a second layer of fees and an operational dependency on the underlying issuers.

Underlying asset: Shares of tokenized US Treasury funds, principally BUIDL
Asset class: Tokenized Treasury
Product structure: Beneficial Interest
Legal structure: US Reg D / 3(c)(7) Fund
Issuer jurisdiction: United States
Fund domicile: United States (Delaware)
Base currency: USD
Launched: 30 Jan 2023

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


BUIDL	4.16%	0.50%	$5.0M	$1.85B
USDY	4.25%	0.50%	$500	$1.40B
USTB	4.11%	0.15%	$100.0K	$570.4M
JTRSY	4.18%	0.35%	$100.0K	$323.3M
OUSGthis product	4.04%	0.15%	$100.0K	$312.9M
VBILL	4.09%	0.20%	$1.0M	$35.5M
STBT	4.01%	0.10%	$10.0K	$23.6M

Issuer

Who runs it

Ondo FinanceNew York, United States

Crypto-native issuer that packages institutional funds into on-chain instruments, splitting its range between a US qualified-purchaser product and a non-US yield-bearing note. A significant allocator into other issuers' funds, which makes it both a competitor and a distribution channel.

Portfolio

Composition

BlackRock USD Institutional Digital Liquidity Fund (BUIDL)62.4%
Other tokenized US Treasury funds29.8%
US Treasury bills held directly5.1%
Cash and stablecoin liquidity buffer2.7%

Weighted average maturity

14 days