Following the ETF application from 21Shares, Ondo (ONDO) has shown a significant price increase, reflecting interest from institutional investors.
21Shares ETF Filing
21Shares filed official S-1 documents for the ONDO ETF with the US SEC on July 22. This move highlights the growing interest of institutional investors in digital assets.
Price Surge of ONDO
At the time of writing, ONDO is trading above $1.1, up by 6% in the past 24 hours. Following the ETF announcement, ONDO's price spiked to $1.16, with a market cap exceeding $3.67 billion.
Institutional Interest and the Significance of ONDO
ONDO is a part of the WLFI project, which is linked to the Trump family's crypto initiatives. They hold over 342,000 ONDO tokens worth over $379,000. The project aims to tokenize real-world assets such as US Treasury bonds.
Thus, the price growth of ONDO and the ETF application from 21Shares demonstrate significant institutional investor interest in the project, which may increase its influence in the market.
