ETF issuer 21Shares has filed with the SEC to launch a spot ONDO ETF, potentially marking a major milestone for DeFi and tokenized real-world assets.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
21Shares has filed with the US Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tracking ONDO ONDO $1.00 24h volatility: 4.2% Market cap: $3.20 B Vol. 24h: $674.38 M , the native token of Ondo Finance.
Dubbed the “21Shares Ondo Trust,” this product would be among the first ETFs to directly hold and track a DeFi-native asset tied to real-world asset (RWA) tokenization.
MASSIVE ALERT: $ONDO is the next institutional darling!
BlackRock didn't align with $XRP and $ONDO by accident – they see what's coming 👀
21Shares ETF filing = institutional floodgates about to OPEN
Smart money is positioning NOW before retail catches up! 🚀 pic.twitter.com/qdHxgsq9R4
— Jeff Cook 🪐 (@jeffiscooking) July 22, 2025
According to the preliminary prospectus, the ETF aims to mirror the spot price of ONDO through the CME CF Ondo Finance-Dollar Reference Rate.
Custody will be handled by Coinbase, and the fund will operate as a passive investment vehicle with no leverage or speculative exposure.
Shares will be redeemable in cash or in-kind, a model similar to that of the already approved Bitcoin spot ETFs.
ONDO is the utility token of Ondo Chain, a layer-1 blockchain focused on tokenizing institutional-grade RWAs like US Treasurys and private credit.
With a circulating supply of 3.1 billion out of a 10 billion total, the token boasts a $3.41 billion market cap.
Though currently priced at $1.08, ONDO is still down nearly 50% from its December peak of $2.14.
The Trump family-backed DeFi platform, World Liberty Financial, holds 342,000 ONDO tokens, acquired for $250,000 in December and now worth around $383,000. However, this still represents a mere 0.2% of their $208 million crypto portfolio.
Earlier this month, Ondo Finance took another significant step by acquiring SEC-registered broker-dealer Oasis Pro. The firm is registered as both an Alternative Trading System and a transfer agent, making it legally equipped to handle tokenized securities.
The bullish momentum behind ONDO also extends to its flagship tokenized product, USDY (US Dollar Yield).
In a press release, Ondo Finance announced the integration of USDY on Solana SOL $186.6 24h volatility: 7.6% Market cap: $100.43 B Vol. 24h: $22.40 B into Alchemy Pay’s global fiat on-ramp system.
This allows users in 173 countries to purchase USDY using local currencies via familiar payment channels like Visa, Apple Pay, and bank transfers.
Stablecoins unlocked dollar access. Today, @AlchemyPay is unlocking dollar yield with USDY.
Now, non-US users in 173 countries can onramp into Ondo’s tokenized US Treasuries on @Solana via local currencies & payment methods such as Visa, Mastercard, Apple Pay, & bank transfers. pic.twitter.com/5pugQTNfE2
— Ondo Finance (@OndoFinance) July 22, 2025
USDY blends the stability of US Treasurys with the liquidity of stablecoins, offering transparent, 24/7 yield generation. Its presence on Solana enhances speed and cost-efficiency, further attracting non-US institutions and individuals seeking compliant, high-yield dollar exposure.
As per the daily chart, ONDO has pulled back sharply (-5.39%) from its recent high at $1.14. It’s currently trading near the upper Bollinger Band ($1.15), suggesting short-term overextension and the likelihood of consolidation or correction.
Meanwhile, at 68.15, the RSI is flirting with the overbought zone, hinting at limited upside unless buying pressure resumes. Also, the MACD line remains above the signal line (0.0199 vs. 0.0566), the histogram is flattening, signaling slowing bullish momentum.
ONDO Price Chart with Momentum Indicators | Source: TradingView
The BoP reads -0.78, suggesting that sellers are dominating despite the recent uptrend. Finally, the Chaikin Money Flow (CMF) is 0.10, indicating modest capital inflows. Based on the chart, the immediate resistance lies at the recent high of $1.15.
A breakout above could open the door to a retest of $1.30, making ONDO the next crypto to explode before the current bullish cycle ends.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
