Catenaa, Sunday, July 27, 2025- Global exchange-traded fund provider 21Shares has filed with the US Securities and Exchange Commission for a spot ETF tied to Ondo Finance’s native token, ONDO, marking a significant step in the institutional embrace of tokenized finance.
According to a preliminary prospectus, the proposed “21Shares Ondo Trust” will hold ONDO tokens directly and follow the CME CF Ondo Finance-Dollar Reference Rate.
Coinbase will serve as the fund’s custodian. The ETF will be a passive investment vehicle, with shares created or redeemed in either cash or kind.
Ondo Finance is a blockchain firm focused on real-world asset (RWA) tokenization, building infrastructure tailored for institutional finance.
Its token, ONDO, powers the proof-of-stake Ondo Chain and has a market capitalization of $3.5 billion, according to CoinGecko.
The ETF filing follows Ondo’s acquisition of SEC-registered broker-dealer Oasis Pro, part of a broader strategy—backed by Pantera Capital—to bridge traditional financial markets with blockchain-based tokenized assets. Oasis Pro operates as an Alternative Trading System and has been a FINRA member since 2020.
ONDO has attracted high-profile interest, including a $250,000 purchase by Trump-affiliated World Liberty Financial, though it remains a small fraction of the platform’s $208 million portfolio.
The ETF proposal arrives amid explosive growth in tokenized RWAs, now valued at nearly $25 billion on-chain—a 58% surge this year.
Ethereum dominates the sector, holding 55% of activity, largely in tokenized Treasurys and private credit.
