21Shares has taken a step towards creating an ETF indexed to ONDO, underlining efforts for the tokenization of real financial assets.
Filing for the ONDO ETF
21Shares has submitted an S-1 application to the U.S. Securities and Exchange Commission (SEC) for a spot ETF indexed to the altcoin ONDO. Founded in 2021 by former Goldman Sachs employees Nathan Allman and Pinku Suran, Ondo Finance focuses on tokenizing real assets like treasury bonds and money market funds. The altcoin holds a strategic position in World Liberty Financial's diverse treasury, which recently acquired about half a million dollars' worth of ONDO coins.
Ondo's Tokenization Strategy and New Partnerships
Since its inception, Ondo Finance has prioritized moving real assets onto the blockchain. Tokens based on traditional financial products allow investors to track returns transparently within the blockchain ecosystem. Plans to acquire the licensed brokerage Oasis Pro provide new opportunities for the company, including ensuring regulatory compliance in the tokenization process. The partnership with Pantera, involving a $250 million investment in real-world assets, strengthens the platform's capital base and scalability.
Impact on ONDO Price
The developments surrounding 21Shares' application have positively influenced ONDO's price. According to CoinMarketCap, the altcoin's price surged to $1.17, and at the time of writing, it has experienced a 4.53% increase in the last 24 hours, trading at $1.10.
The application for the ONDO ETF highlights the growing interest in the tokenization of real assets and may further promote the growth and legitimacy of the project.
