21Shares Files for Spot ETF Tied to Ondo Finance’s Native Token
Main Idea
21Shares has filed for a spot ETF tied to Ondo Finance's native token ONDO, aiming to track its value directly, amid growing institutional interest in tokenized finance and real-world assets.
Key Points
1. 21Shares filed for the '21Shares Ondo Trust' spot ETF, which will hold ONDO tokens directly and follow the CME CF Ondo Finance-Dollar Reference Rate.
2. ONDO powers Ondo Chain, a layer-1 proof-of-stake blockchain for institutional finance, with a current market cap of $3.5 billion.
3. Tokenized real-world asset (RWA) activity has surged, with on-chain RWA value up 58% this year to nearly $25 billion, led by Ethereum.
4. Bloomberg analysts estimate a 95% chance of SEC approval for spot ETFs for Solana, XRP, and Litecoin this year, signaling broader crypto market access.
5. Ondo Finance recently acquired SEC-registered broker-dealer Oasis Pro, expanding its institutional infrastructure.
Description
Exchange-traded fund provider 21Shares is pushing further into the tokenized finance sector, filing with U.S. regulators for a spot ETF that tracks the native token of Ondo Finance. Key Takeaways: 21Shares has filed for a spot ETF that would directly hold ONDO. Ondo is building out institutional-focused tokenization infrastructure. Tokenized real-world assets are on the rise, with $25B now on-chain. According to a preliminary prospectus submitted to the Securities and Exchange Commission on Tues...
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