Ondo Short-Term U.S. Government Bond Fund OUSG
Rank #139 by market capTokenized fund
Tokenized fund
A token representing units in a fund — usually treasuries or money markets. These are typically held rather than traded, so a large market cap alongside almost no volume is normal here.
Last 7 days
CM Profile: Ondo Short-Term U.S. Government Bond Fund
Cryptominium Profile. What we have established, measured and written about OUSG, and what we have not.
- Established
- 3 contracts are matched to this coin: on Ethereum, Polygon and Solana.
- Its kind: tokenized fund.
- Measured
- Its price, recorded by us every day since 9 August 2026.
- Written, with sources
Read from our own records when this page was made. It describes what we know, and is not a view on whether to hold OUSG. How each part is worked out
What changed
Week to 18 OctoberNothing we measure moved much this week: reported supply and price are all within their usual range.
From our own measurements only, each against the month before. We do not say why a price moves. How this is worked out · Every coin this week
What Ondo Short-Term U.S. Government Bond Fund is
OUSG (Ondo Short-Term U.S. Government Bond Fund) is a tokenized fund that holds short-term U.S. Treasury exposure, managed by Ondo Capital Management, a subsidiary of Ondo Finance. The bulk of the portfolio sits in the iShares Short Treasury Bond ETF (NASDAQ: SHV), with a small allocation to USDC and USD held for liquidity. Ondo Finance, a DeFi software firm, launched in August 2021 with an earlier structured-finance protocol called Ondo Vaults and a liquidity service, both later sunset as the team shifted focus. OUSG, alongside fund tokens OSTB and OHYG, was part of the Ondo V2 lineup announced by Nathan Allman in January 2023, after which subscriptions opened.
Mechanically, OUSG works as a wrapper: investors who pass KYC/AML checks and sign subscription documents receive tokens representing ownership in the underlying fund, which itself owns shares of SHV plus a cash/USDC buffer. Those tokens can be transferred between qualified holders to reassign fund ownership, and can be used in smart contracts for lending or trading arrangements with other eligible investors. Transfer restrictions are built into the tokens so they cannot move to wallets that haven't been verified as qualified investors.
OUSG is not a permissionless or freely tradable crypto asset — the underlying fund units require KYC/AML clearance and signed subscription paperwork, and the transfer restrictions mean holding the token is not the same as holding it anonymously or without gatekeeping. It is not a yield-bearing protocol token or a governance asset; it represents fund shares backed by a traditional ETF, so its behavior depends on SHV and Treasury-market mechanics rather than on-chain economics. It is classified as a tokenized fund within real-world-asset and tokenized-treasury categories, and is deployed across Ethereum, Polygon, and Solana — meaning the same underlying claim exists in parallel across chains, which is a bridging and reconciliation dependency, not a single ledger of record. No measurement of its liquidity depth, redemption friction, or trading cost is implied by any of the above; those figures, where available, are tracked separately.
What Ondo Short-Term U.S. Government Bond Fund can do
OUSG gives exposure to short-term US Treasuries, through funds from asset managers such as BlackRock and Franklin Templeton. Only those who have onboarded to Ondo's qualified-access funds can buy, redeem, transfer or receive it; the most common test is a net worth over $5 million.
Sources: Ondo docs: OUSG overview, Ondo docs: OUSG eligibility · checked 2 October 2026
Onboarded holders can redeem OUSG for USDC at any hour. Ondo's docs say the amount that can be redeemed instantly in any 24 hours is limited.
Source: Ondo docs: OUSG overview · checked 2 October 2026
What a coin can do is not a reason to buy it or to sell it. Each answer names its source and the day we read it; where we could not source one, the row is left out. How these are written · Every coin we have written up
Where OUSG lives
On Solana, a mint authority can create more of the token and a freeze authority can freeze it in a holder's account; both are read from the token itself, every day. On Ethereum, Base and BNB Chain, GoPlus's analysis of each contract is read weekly: whether it has a function to block addresses or pause transfers, and whether an owner holds it. That is GoPlus's reading, not ours. Where a token exists on several chains, one copy's settings say nothing about the original coin.
Always verify a contract address against the project's own site before sending anything. Addresses are shown as published by CoinGecko, not as an endorsement — and identical-looking tokens on other chains are the most common way people lose money here.
Price change
Ondo Short-Term U.S. Government Bond Fund data synced 16s ago from CoinGecko. Figures shown in USD. This page is market information, not financial advice — and nothing here is a recommendation to buy or sell OUSG.