Key Takeaways:
- 21Shares has filed for a spot ONDO ETF with the SEC, aiming to directly hold ONDO tokens and track their price via CME CF’s reference rate, with Coinbase as custodian.
- ONDO, the native token of Ondo Chain focused on tokenized real-world assets, has a $3.5 billion market cap and is down 48% from its all-time high.
- Ondo Finance recently acquired Oasis Pro to bolster institutional access to tokenized securities and is collaborating with Pantera Capital.
21Shares has filed a preliminary application with the U.S. Securities and Exchange Commission (SEC) to launch the “21Shares Ondo Trust”, a spot ETF designed to track the price of ONDO, the native token of Ondo Finance.
The fund will passively hold ONDO tokens, with Coinbase serving as custodian, and will use the CME CF Ondo Finance-Dollar Reference Rate.
NEW: @21shares_us files for an Ondo ETF pic.twitter.com/aiGG9bdH0N
— James Seyffart (@JSeyff) July 22, 2025
The ETF allows for both cash and in-kind share transactions and will avoid speculative or leveraged strategies.
ONDO powers Ondo Chain, a layer-1 blockchain focused on institutional finance and tokenized real-world assets (RWAs).
It currently has a market cap of $3.5 billion and trades at $1.12 – down 48% from its December high of $2.14.
World Liberty Financial, linked to the Trump family, holds 342,000 ONDO worth $383,000, though the token comprises just 0.2% of its $208 million portfolio.
Earlier in July, Ondo Finance acquired SEC-registered broker-dealer Oasis Pro, with plans to launch tokenized securities in collaboration with Pantera Capital.
The value of tokenized RWAs has surged 58% in 2025, now nearing $25 billion, with Ethereum holding a 55% market share.
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