{"id":14302,"date":"2025-07-23T07:33:49","date_gmt":"2025-07-23T05:33:49","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=14302"},"modified":"2025-07-23T07:33:49","modified_gmt":"2025-07-23T05:33:49","slug":"21shares-seeks-approval-for-innovative-ondo-etf-focused-on-real-world-assets","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/23\/21shares-seeks-approval-for-innovative-ondo-etf-focused-on-real-world-assets\/","title":{"rendered":"21Shares Seeks Approval for Innovative Ondo ETF Focused on Real-World Assets"},"content":{"rendered":"

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The exchange-traded fund provider 21Shares has submitted a request to US regulators for a product that mirrors the spot price of Ondo, the primary token of the decentralized finance platform Ondo Finance.<\/p>\n

On Tuesday, 21Shares filed<\/a> a preliminary prospectus with the Securities and Exchange Commission for the \u201c21Shares Ondo Trust,\u201d which seeks to directly possess Ondo (ONDO<\/a>) tokens and monitor its performance through the CME CF Ondo Finance-Dollar Reference Rate. Coinbase will manage the custody of the tokens.<\/p>\n

This will serve as a passive investment option with no speculation or leverage involved. Authorized participants are permitted to create or redeem shares either in cash or in-kind.<\/p>\n

ONDO acts as the native utility token of Ondo Chain, a layer-1 proof-of-stake blockchain concentrating on institutional-grade financial markets and tokenized real-world assets (RWAs<\/a>).<\/p>\n

Ondo possesses a market capitalization of $3.5 billion, with a circulating supply of 3.1 billion out of a total of 10 billion tokens. Currently, it is priced at $1.12, reflecting a 48% decrease from its all-time high of $2.14 in December, according<\/a> to CoinGecko.<\/p>\n

ONDO linked with the Trumps<\/h2>\n

The Trump family’s DeFi platform, World Liberty Financial, has been a supporter of Ondo Finance, having incorporated the platform\u2019s token into its assets.<\/p>\n

In December, World Liberty Financial acquired<\/a> $250,000 worth of ONDO, and it presently holds 342,000 tokens valued at approximately $383,000, according<\/a> to Nansen.<\/p>\n

Nonetheless, the Trump DeFi platform\u2019s ONDO holdings represent merely 0.2% of the total $208 million portfolio, which is primarily composed of stablecoins, wrapped Ether (ETH<\/a>), and Bitcoin (BTC<\/a>).<\/p>\n

Emphasis on institutional RWA tokenization<\/h2>\n

Earlier this month, Ondo Finance secured<\/a> the SEC-registered broker-dealer Oasis Pro, intending to launch tokenized securities in collaboration with Pantera Capital.<\/p>\n

Related: <\/strong><\/em>$250M Ondo Catalyst fund hints at \u2018arms race\u2019 for RWA tokenization<\/strong><\/em><\/a><\/p>\n

Oasis Pro is recognized by the SEC as an Alternative Trading System and transfer agent, signifying it\u2019s a registered non-exchange trading platform capable of managing security ownership. It has also been a member of the Financial Industry Regulatory Authority since 2020.<\/p>\n

Ondo Chain, the institution-centric layer-1 blockchain for Wall Street entities to tokenize RWAs, was revealed<\/a> in February.<\/p>\n

RWA onchain value skyrockets<\/h2>\n

The value of tokenized real-world assets on-chain has surged dramatically this year, increasing by 58% to nearly $25 billion, according<\/a> to RWA.xyz<\/a>.<\/p>\n

The majority of these assets, mainly private credit and US Treasurys, are tokenized on Ethereum, which holds a 55% market share.<\/p>\n

Total RWA value. Source: RWA.xyz<\/em><\/figcaption><\/figure>\n

Magazine: <\/strong><\/em>Bitcoin OG Willy Woo has liquidated the majority of his Bitcoin: Here\u2019s why<\/strong><\/em><\/a><\/p>\n