21Shares Files for ONDO ETF With SEC, Highlighting Potential Institutional Interest and Recent Token Growth

Key Points

1. 21Shares submitted a Form S-1 for the 21Shares Ondo Trust ETF on July 22, 2025, designed to track ONDO's price performance.

2. The ETF will hold ONDO tokens directly, with Coinbase Custody Trust Company as the custodian, and track prices using the CME CF Ondo Finance-Dollar Reference Rate.

3. ONDO's market capitalization increased by 64.7% over the past month, reaching over $3.5 billion, with its price at $1.12 at the time of writing.

4. 21Shares has also filed ETF applications for other altcoins like Polkadot (DOT), XRP, Sui (SUI), and Solana (SOL), indicating a broader trend in crypto ETF filings.

5. Analysts view the ONDO ETF filing as a potential precedent for future ERC-20 token ETFs, fostering institutional adoption and market growth.