21Shares Files Spot ETF for ONDO Token

21Shares Submits Spot ETF Filing to SEC
ETF issuer 21Shares Submits a spot ETF application for ONDO token. The company submitted an initial prospectus to the U.S. Securities and Exchange Commission (SEC) to launch the “21Shares Ondo Trust.”

This fund directly holds ONDO tokens and tracks their price using the CME CF Ondo Finance-Dollar Reference Rate. Coinbase will serve as the custodian, ensuring secure storage of the assets.

Unlike derivative-based ETFs, this product takes a passive investment approach. Institutions can create or redeem ETF units using either cash or ONDO tokens, offering flexibility and direct exposure to the asset.

What Is ONDO Token?
ONDO functions as the utility token of Ondo Chain, a layer-1 blockchain developed specifically for tokenizing real-world assets (RWA) and supporting institutional financial systems.

Currently, ONDO has a market capitalization of $3.5 billion. About 3.1 billion tokens are in circulation out of a total supply of 10 billion. At the time of writing, ONDO trades at $1.12—nearly 50% below its all-time high of $2.14 in December 2024, according to CoinGecko.

Trump-Linked DeFi Platform Holds ONDO Tokens
In December 2024, World Liberty Financial—a decentralized platform reportedly linked to Donald Trump—invested $250,000 in ONDO tokens.

According to Nansen data, the platform now holds 342,000 ONDO tokens, currently worth around $383,000. However, ONDO represents only 0.2% of its $208 million portfolio, which remains heavily concentrated in stablecoins, wrapped Ether, and Bitcoin.

Ondo Finance Acquires SEC-Licensed Firm
To further institutional adoption, Ondo Finance recently acquired Oasis Pro, a broker-dealer registered with the SEC. This strategic move supports its goal to tokenize securities in collaboration with Pantera Capital.

Oasis Pro holds key licenses as an Alternative Trading System (ATS) and transfer agent. These allow the firm to oversee digital securities trading and manage ownership transfers. Since 2020, the company has operated under FINRA’s oversight.

Earlier this year, Ondo Finance also launched Ondo Chain, a blockchain platform tailored for asset managers and financial institutions interested in RWA tokenization.

Tokenized Assets Market Grows Rapidly
The tokenized real-world asset market continues to grow in 2025. According to RWA.xyz, the total value has surged by 58%, now approaching $25 billion.

Most of this growth comes from tokenized U.S. Treasury bonds and private credit. Ethereum leads the sector with a dominant 55% share, followed by other chains trying to catch up.

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