21Shares files with SEC for spot ONDO ETF

Key Points

1. 21Shares submitted a preliminary prospectus for the '21Shares Ondo Trust' to the SEC, which will directly hold Ondo tokens and track their performance via the CME CF Ondo Finance-Dollar Reference Rate.

2. ONDO is the native utility token of Ondo Chain, a layer-1 proof-of-stake blockchain, with a total supply of 10 billion tokens and a current price of $1.12, down 48% from its all-time high.

3. The Trump family's DeFi platform, World Liberty Financial, holds 342,000 ONDO tokens worth around $383,000, representing 0.2% of its $208 million portfolio.

4. Ondo Finance recently acquired an SEC-registered broker-dealer and focuses on institutional real-world asset (RWA) tokenization, with its layer-1 blockchain, Ondo Chain, targeting Wall Street firms.

5. The total value of onchain RWAs has surged 58% to nearly $25 billion, with Ethereum holding a 55% market share, primarily in private credit and US Treasurys.