As crypto legislation gains momentum, investor focus is shifting from meme coins to tokenized real-world assets (RWAs). Seizing the moment, 21Shares has filed a preliminary application with the U.S. SEC for a spot ONDO ETF, signaling a major step in bridging DeFi with traditional finance.
On Tuesday, 21Shares submitted its proposal for the “21Shares Ondo Trust”, a spot ETF designed to track the real-time price of ONDO, the native token of Ondo Finance. The fund will hold ONDO tokens directly and follow the CME CF Ondo Finance-Dollar Reference Rate for pricing.
The trust is engineered to offer institutional-grade exposure to a DeFi token without speculative risk, potentially attracting TradFi investors into the growing RWA sector.
World Liberty Financial a DeFi platform reportedly connected to the Trump family, has taken a position in ONDO. As per Nansen data, it acquired $250,000 worth of ONDO tokens in December, currently holding 342,000 ONDO valued at about $383,000.
Yet, this investment remains a small portion (0.2%) of their $208 million portfolio, which is heavily concentrated in stablecoins, Wrapped ETH, and Bitcoin.
Earlier this month, Ondo Finance acquired Oasis Pro, an SEC-registered broker-dealer, FINRA member, and Alternative Trading System (ATS). The move enhances Ondo’s ability to issue and manage tokenized securities, a key pillar in its RWA strategy.
Through Ondo Chain, the project envisions becoming the blockchain backbone for Wall Street, integrating real-world assets into decentralized finance ecosystems.
According to RWA.xyz, the value of tokenized real-world assets on-chain has surged 58% in 2025, reaching nearly $25 billion. Ethereum dominates with a 55% market share, mainly through tokenized private credit and U.S. Treasury assets.
As more ETF issuers explore RWA-based products, ONDO’s ETF filing could ride the wave of institutional demand.
Following the ETF news, ONDO price rose 2.3% to $1.12, with a market cap of $3.5 billion and 3.1 billion tokens in circulation. Still, ONDO remains down 48% from its all-time high of $2.14 in December.
Key Technical Levels (Ali Martinez, via X):
It’s a proposed spot ETF that will track the price of ONDO tokens via a passive investment trust held by 21Shares.
Analysts see strong resistance at $1.15. A breakout above $1.26 could lead to $1.50, while failure could pull price back to $0.98–$0.80.
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