21Shares has submitted a registration with the U.S. Securities and Exchange Commission for a new ETF linked to ONDO tokens.
ETF Filing
21Shares has filed for the '21Shares Ondo Trust,' a new ETF that will directly hold ONDO tokens and track the CME CF Ondo Finance-Dollar reference rate managed by CF Benchmarks Ltd.
Market Reaction to the Filing
The filing has led to a 6.4% surge in the price of ONDO, indicating strong market interest in the token's potential for broader institutional adoption, now settled at $1.10.
Conclusions and Prospects
If approved, this ETF could simplify access for traditional investors to ONDO tokens. However, it is important to note that the fund is not registered under the Investment Company Act of 1940, which may limit investor protections.
The ETF filing by 21Shares could mark a turning point for ONDO tokens, enhancing investor interest and potentially leading to broader institutional adoption.
