21Shares Don File for US Spot ONDO ETF to Offer DeFi Exposure
21Shares don file one preliminary application wit di US SEC for one spot ETF wey go dey track di ONDO token for Ondo Chain. If dem approve am, dis passive spot ETF go give institutional investors direct exposure to DeFi assets through on-chain holdings of ONDO tokens, no leverage or derivatives involved. Di fund go use di CME CF Ondo Finance-Dollar Reference Rate as im pricing benchmark and employ Coinbase Custody as custodian, plus dem go allow share creation and redemption either in-kind or cash through authorized participants. Since di ETF filing, ONDO price dey short push pass $1.16 and e dey trade above im 50-, 100- and 200-day moving averages, show say di momentum dey turn bullish. Di current consolidation range of $1.06–$1.14 fit be base for one rally toward $1.30–$1.40 if institutional demand solidify. Crypto market dey wait for di SEC decision now, as dis na critical regulatory milestone for mainstream DeFi exposure and institutional spot ETFs.
Bullish
Di spot ETF filing wey 21Shares do, e dey show say institutional demand for direct DeFi exposure through regulated products dey rise and e also support ONDO token wey dey inside. Technical indicators—price dey climb pass 50-, 100- and 200-day moving averages—and the consolidation range wey dey tight, dem dey show bullish setup for possible rally go $1.30–$1.40. Even though SEC approval no sure, the application sef don already push positive price action and e mean say institutional interest go continue, wey mark good short and medium-term outlook for ONDO.