21Shares Files for US Spot ONDO ETF to Offer DeFi Exposure
21Shares has filed a preliminary application with the US SEC for a spot ETF tracking the ONDO token on the Ondo Chain. If approved, the passive spot ETF will give institutional investors direct exposure to DeFi assets via on-chain holdings of ONDO tokens, without leverage or derivatives. The fund will use the CME CF Ondo Finance-Dollar Reference Rate as its pricing benchmark and employ Coinbase Custody as custodian, while allowing share creation and redemption in-kind or in cash through authorized participants. Since the ETF filing, ONDO’s price briefly pushed above $1.16 and trades above its 50-, 100- and 200-day moving averages, indicating a shift to bullish momentum. The current consolidation range of $1.06–$1.14 could serve as a base for a rally towards $1.30–$1.40 if institutional demand solidifies. The crypto market now awaits the SEC’s decision, a critical regulatory milestone for mainstream DeFi exposure and institutional spot ETFs.
Bullish
The spot ETF filing by 21Shares signals rising institutional demand for direct DeFi exposure through regulated products and supports ONDO’s underlying token. Technical indicators—price climbing above the 50-, 100- and 200-day moving averages—and a tightening consolidation range provide a bullish setup for a potential rally toward $1.30–$1.40. While SEC approval remains uncertain, the application itself has already driven positive price action and suggests sustained institutional interest, marking a favorable short- and medium-term outlook for ONDO.