21Shares has filed for an ETF based on the ONDO token, marking a significant step for the DeFi sector and real-world asset tokenization.
Historic Filing for 21Shares Ondo Trust
21Shares, one of the world’s leading issuers of crypto exchange-traded products (ETPs), has filed a Form S-1 registration statement with the SEC to launch the 21Shares Ondo Trust, an ETF that will hold ONDO, the native token of the Ondo Finance platform. The filing marks a historic moment that could potentially lead to the first approved ERC-20-based spot ETF in the U.S., targeted at facilitating access to tokenized financial products.
Surge in ONDO Price and Market Capitalization
The significance of the filing comes as ONDO’s price and market capitalization have surged considerably in recent weeks, with ONDO gaining 64.7% in the past month and reaching a trading price of $1.12. Its market cap expanded from $2 billion to over $3.5 billion, reflecting heightened interest from both retail and institutional investors, which underscores the ongoing acceleration of confidence in real-world asset tokenization.
Market Reactions and Industry Impact
Market commentators reacted quickly to the filing, seeing it as a potential breakthrough for bringing institutional capital into the ONDO ecosystem. If approved, the ONDO ETF could significantly boost access for institutional investors to real-world asset tokens through traditional investment channels, marking a noteworthy trend in the evolving landscape of cryptocurrency investments.
The application for the 21Shares Ondo Trust emphasizes the growing focus on tokenized real-world assets and their evolving integration into the traditional financial market. Regardless of the SEC's final decision, the interest in real-world asset tokens is growing, opening new avenues for crypto investments.
