21Shares Files for Ondo Finance-Backed ETF

21Shares submitted an application for an ETF backed by Ondo Finance’s native token ONDO on July 23, 2025, with future implications for DeFi tokenization. The application signals potential growth and integration in the DeFi space, marked by ONDO’s 2.3% price increase, further underscoring the sector’s momentum.

21Shares has applied to launch an ETF that tracks ONDO, the native token of Ondo Finance, aimed to be physically backed and using Coinbase Custody for safekeeping. The application was filed with the SEC through an S-1 registration statement.

ONDO’s ETF Milestone: A Game Changer for DeFi

21Shares Executive Team, – No official comment has been observed from the 21Shares executive team regarding the ETF application as of July 22, 2025.

Following the ETF filing, ONDO saw immediate price benefits, indicating investor confidence in tokenized real-world assets. The initiative aligns with Ondo Finance’s goal to expand its RWA offerings, propelled by a planned acquisition of broker Oasis Pro.

CoinMarketCap, ONDO stands at $1.14 with a market cap of approximately $3.59 billion, recently experiencing a 5.86% increase within 24 hours and a 69.11% rise over 30 days. Its 24-hour trading volume reached $376.6 million, showing a 14.27% change.

Market Insights

Did you know? Ondo Finance is among the first DeFi projects to propose a U.S.-listed spot ETF for its native token, marking a significant step in asset tokenization.

According to The Coincu research team, this move could align with broader market trends focusing on tokenized assets. They suggest that such financial instruments offer significant potential in increasing accessibility and liquidity within global markets, potentially boosting DeFi adoption.

Analysts believe that the approval of such ETFs could pave the way for more institutional investment in the DeFi space, potentially leading to a more robust and mature market.