Ondo Bitmine Immersion Technologies, Inc.BMNRon
BMNRon, issued by Ondo Global Markets (BVI) Limited, is a tokenized stock that gives onchain economic exposure to Bitmine Immersion Technologies, Inc., a U.S.-listed instrument, through a regulated bankruptcy-remote special purpose vehicle separate from the Ondo Finance tokenizer. The token tracks the economic value of Bitmine Immersion Technologies, Inc. (BMNR) and is structured as a debt instrument whose payable amount changes with the underlying value. It is backed 1:1 by the corresponding shares plus cash in transit and is overcollateralized at all times. Tokenholders receive economic exposure only, with no shareholder voting or statutory rights. Ondo Global Markets (BVI) Limited, organized in the British Virgin Islands, issues these tokens as Regulation S structured notes governed by Swiss law, and Ondo Finance Inc. acts only as software and service provider, disclaiming regulated status. Tokens are offered solely to non-U.S. persons under Regulation S who complete KYC and AML onboarding, subject to sanctions and jurisdictional restrictions. Underlying securities are held with U.S.-registered custodial broker-dealers, and Ankura Trust Company holds a first-priority perfected security interest for tokenholders. Holdings and NAV are independently reviewed daily, with monthly reconciliations and annual audits. The tokens are issued natively on Ethereum, Solana and BNB Chain, with transfer to HyperEVM available via bridge. Minting and burning are instant within a single atomic transaction, and tokens are redeemable for cash or stablecoins at the then-value of the underlying, with fractional tokens supported. Daily holdings and NAV are updated and independently reviewed by Ankura Trust.