21Shares has filed for an exchange-traded product tracking $ONDO, the native token for the $Ondo real-world asset platform. The firm submitted its S-1 filing on Tuesday, according to a U.S. Securities and Exchange Commission report.
$Ondo Finance is a decentralized finance platform founded in 2021 by former Goldman Sachs associates Nathan Allman and Pinku Suran, focused on tokenizing real-world assets like U.S. Treasury bonds and money market funds.
$Ondo is in the orbit of President Donald Trump through the World Liberty Financial DeFi project. World Liberty has purchased approximately half a million worth of $ONDO tokens for its multi-asset treasury.
Earlier this month, the platform said it would acquire U.S.-regulated broker Oasis Pro to expand its tokenization business. The firm has also partnered with Pantera on a $250 million RWA investment plan.
There are dozens of crypto-related ETF proposals awaiting SEC approval. Last month, Bloomberg analysts raised their year-end odds of spot XRP, Dogecoin, and Cardano ETF approvals to 90.00%.