In a bold step toward expanding crypto investment vehicles, 21Shares has introduced plans for a new spot ETF built around Ondo (ONDO), the core token of the Ondo Finance protocol.
The filing, submitted Tuesday to the U.S. Securities and Exchange Commission, outlines the “21Shares Ondo Trust”—a product designed to track the real-time value of ONDO through the CME CF Ondo Finance-Dollar Reference Rate.
Coinbase Custody will secure the fund’s token holdings, reflecting growing institutional demand for decentralized finance (DeFi) exposure in regulated formats.
DeFi growth drives mainstream interest in Ondo
Ondo Finance has emerged as a leader in tokenizing U.S. Treasuries and offering yield-bearing digital assets. As investors search for compliant DeFi products, ONDO’s traction has intensified. Trading around $1.11, the token supports a growing ecosystem focused on real-world asset integration and secure yield strategies. Its relevance has caught the eye of major firms, making it an ideal candidate for ETF packaging.
ETF mirrors successful crypto fund structures
Like its spot Bitcoin and Ethereum counterparts, the proposed Ondo fund avoids leverage and speculation. It offers a straightforward path for accredited investors to gain ONDO exposure through traditional financial rails. 21Shares structured the product to allow creation and redemption of shares either in-kind or in cash, making it accessible and scalable.
With this launch, 21Shares positions itself at the forefront of DeFi ETF innovation, signaling a new chapter for tokenized asset investing on Wall Street. Approval from the SEC could unlock broader interest in yield-focused crypto assets beyond Bitcoin and Ethereum.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/21shares-files-for-first-spot-etf-tied-to-ondo/