TL;DR
- 21Shares filed with the SEC for a spot ETF that will hold ONDO directly, with Coinbase as custodian and no use of leverage.
- Ondo Finance acquired the regulated broker Oasis Pro to issue and manage tokenized securities under U.S. regulations.
- ONDO rose 1% after the announcement and is up 58% this month, with technical resistance at $1.15 and potential to climb to $1.50.
21Shares filed a request with the SEC to launch a spot ETF that tracks the price of ONDO. The fund, named “21Shares Ondo Trust,” will hold ONDO tokens directly and use the CME CF Ondo Finance-Dollar Reference Rate as its pricing benchmark.
21Shares Appoints Coinbase as Custodian for its ETF
The proposal aims to make tokenized assets more accessible to traditional investors within the DeFi ecosystem. Coinbase has been designated as the fund’s custodian, and the structure does not involve leverage. Subscriptions can be made in cash or in kind.
Ondo Finance, founded in 2021 by Nathan Allman and Pinku Suran, focuses on issuing tokenized versions of traditional assets such as U.S. Treasury bonds and money market funds. To reinforce this business, the company recently acquired Oasis Pro, an SEC-registered broker-dealer that also operates as an Alternative Trading System (ATS). This regulated infrastructure allows Ondo to issue and manage tokenized securities under U.S. legal frameworks.
Ondo is backed by World Liberty Financial, a DeFi platform with ties to Donald Trump’s inner circle. According to Nansen data, the firm acquired $250,000 in ONDO tokens in December and currently holds 342,000 tokens, valued at approximately $383,000. This position represents just 0.2% of its portfolio, which is mainly composed of stablecoins, Wrapped ETH, and Bitcoin.
Performance and Outlook for ONDO
Meanwhile, the real-world asset (RWA) market continues to grow rapidly. In 2025, the total value of tokenized RWAs reached $25 billion. Ethereum holds more than half of that volume, primarily through tokenized private credit and U.S. government debt.
Following 21Shares’ ETF filing, ONDO rose 1% to $1.05, bringing its market cap to $3.3 billion. On a monthly basis, the token has gained 58%. According to technical analysis, the next resistance level is $1.15, with potential upside to $1.50 if it breaks through $1.26
