21Shares Files S-1 for ONDO RWA Token ETF
21Shares has filed an S-1 registration with the U.S. SEC to launch a new ONDO ETF that tracks the ONDO token issued by Ondo Finance’s real-world asset (RWA) platform. Founded in 2021 by former Goldman Sachs professionals Nathan Allman and Pinku Suran, Ondo Finance tokenizes U.S. Treasuries and money market funds via its DeFi protocol, offering regulated, liquid access to real-world assets through standard brokerage accounts. The ETF structure leverages 21Shares’ ETP expertise to address custody, valuation and compliance challenges. The proposal is linked to the World Liberty Financial DeFi project associated with former President Trump, which holds approximately $500,000 in ONDO as part of its multi-asset reserve. Approval of the S-1 would mark the first U.S. RWA token ETF, potentially validating blockchain-based asset tokenization, boosting liquidity, fractional ownership and transparency. Traders should monitor the SEC review timeline and potential listing decisions, as approval could spur market interest in tokenized asset ETFs.
Bullish
In the short term, the S-1 filing could trigger speculative interest in ONDO, as traders anticipate SEC feedback and potential listing, likely driving increased trading volume and price appreciation. In the long term, SEC approval of the ONDO ETF would validate real-world asset tokenization within regulated markets, paving the way for broader institutional adoption. This endorsement of blockchain-based RWA products can enhance ONDO’s liquidity and demand, supporting sustained bullish momentum.