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21Shares Seeks Approval For First Spot ONDO ETF

21Shares Seeks Approval For First Spot ONDO ETF

Sebastian Villafuerte
by Sebastian Villafuerte
1 month ago
·
Posted in Altcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ondo Finance is back in the spotlight after a major development in the institutional investment landscape. 21Shares, a prominent issuer of crypto exchange-traded products (ETPs), has submitted a preliminary application to the US Securities and Exchange Commission (SEC) for a spot ETF that would track the performance of ONDO, the native token of the decentralized finance platform. This move marks a significant step toward mainstream exposure for the protocol and its token, signaling growing institutional interest in DeFi-focused assets.

Related Reading: Bitcoin Investor Price Model Signals Healthy Growth: BTC Eyes $139K Level

The announcement has already impacted the market, with the price surging past the $1.16 level shortly after the news broke. While the price has since retraced slightly, this reaction highlights the sensitivity of crypto assets to regulatory milestones and investor sentiment. The broader market’s current volatility has limited the upside for now, but the ETF filing could pave the way for renewed strength as the narrative gains traction.

As legal clarity and institutional demand converge, ONDO is positioned to benefit from increased attention and capital inflows in the coming weeks. For now, all eyes are on the SEC’s response—and the potential it holds for its long-term growth trajectory.

Closer Look At The ONDO ETF Filing: Structure, Strategy, and Market Impact

The preliminary prospectus filed by 21Shares for the Ondo ETF outlines a straightforward, passive investment structure designed to track the performance of ONDO without engaging in active trading or speculation. Formally known as the 21Shares Ondo Trust, this exchange-traded fund will issue Shares that reflect the value of the native token of the Chain.

The Trust aims to mirror the price as measured by the CME CF Ondo Finance-Dollar Reference Rate (New York Variant), which aggregates executed trade data from major exchanges. Importantly, the ETF will not use leverage, derivatives, or speculative timing to enhance returns. Instead, it will simply hold ONDO tokens, valuing them daily based on the Pricing Benchmark.

21shares spot ONDO ETF Registration Statement | Source: US Securities and Exchange Commission
21shares spot ONDO ETF Registration Statement | Source: US Securities and Exchange Commission

Coinbase Custody will act as the custodian, securely holding the token on behalf of the Trust. Shares will be created or redeemed in large blocks (Baskets) either through in-kind ONDO transfers or in cash via authorized participants.

If approved, the Trust could significantly increase ONDO’s legitimacy in traditional finance circles, potentially boosting liquidity and demand while maintaining alignment with US regulatory expectations.

Related Reading: SpaceX Moves Bitcoin For First Time In 3 Years: $153M In Play

Retracement After Hitting Multi-Month High

The daily chart shows a sharp breakout above the key resistance near $1.00, followed by a healthy retracement toward $1.07. This move came after ONDO surged to a high of $1.14 on increased volume, driven by optimism around the 21Shares ETF filing. The price is now consolidating above all major moving averages — the 50-day ($0.84), 100-day ($0.88), and 200-day ($0.99) — signaling a strong shift in momentum and bullish market structure.

Price testing key resistance | Source: ONDOUSDT chart on TradingView
Price testing key resistance | Source: ONDOUSDT chart on TradingView

This recent run marks ONDO’s cleanest breakout since the downtrend that began in early 2025. The break above the 200-day SMA, in particular, is critical as it often signals a macro reversal. While the 6% intraday correction reflects broader market volatility, the price holding above the $1.00 level is a sign of strength.

Related Reading: Ethereum ETF Inflows Surge $2.18B In A Week – ‘FOMO Just Getting Started’

The current consolidation phase between $1.06 and $1.14 could serve as a launchpad for a continuation toward $1.30–$1.40, provided the bullish narrative around institutional adoption and ETF traction holds. If the price breaks below the 200-day SMA again, support lies at the 100-day moving average and the $0.95 zone.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte

Sebastian Villafuerte

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

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