21Shares Files Spot ONDO ETF as Token Surges 8% on Back of 16% Volume Spike

A proposed spot ETF for Ondo Finance’s ONDO token has sparked significant market activity following its SEC registration filing by 21Shares on July 22, 2025. The fund, designed to hold ONDO tokens directly and utilize Coinbase Custody for storage, aims to track the CME CF Ondo Finance-Dollar Reference Rate. The filing structure mirrors 21Shares’ existing Bitcoin and Ethereum ETFs, operating as a passive, physically-backed vehicle without leverage or derivatives [1]. ONDO’s price surged 8% in 24 hours, climbing to $1.12 after a 13.7% intraday swing, while trading volume increased 16% to $426 million, reflecting heightened demand for real-world asset (RWA) tokens [1]. Ondo Finance, co-founded in 2021 by Nathan Allman and Pinku Suran (both former Goldman Sachs employees), has positioned itself as a leader in tokenizing real-world assets like U.S. treasury bonds. Its recent strategic moves—such as acquiring broker-dealer Oasis Pro and partnering with Pantera Capital on a $250 million fund—have expanded its institutional credibility and regulatory alignment [1]. World Liberty Financial’s $500,000 investment in ONDO further amplifies its visibility, though its potential political ties remain speculative [1]. The ETF’s approval hinges on the SEC’s evaluation, which is expected to focus on liquidity, market manipulation risks, and custody protocols—common challenges for crypto ETFs. Analysts note delays are likely due to the regulator’s backlog, with other altcoin ETFs also awaiting decisions [1]. Bloomberg analysts predicted a 90% chance the SEC will approve spot ETFs for major cryptocurrencies by year-end, though ONDO’s unique tokenization theme may complicate its review [1]. If approved, the ETF could attract institutional investors, potentially boosting ONDO’s price and liquidity [1]. Technical indicators support a bullish trend for ONDO, with the token trading above key exponential moving averages and $1.16 as a critical resistance level. However, an RSI of 73.4 signals overbought conditions, suggesting short-term volatility. Price forecasts from Bitget project ONDO at $1.04 in July 2025, $1.05 in August, and $1.07 by December, though these reflect analyst expectations rather than confirmed outcomes [2]. Ondo’s growth is tied to RWA adoption and institutional partnerships, but regulatory clarity and market stability remain key risks. The ETF filing underscores a broader shift in crypto markets toward RWAs, with Ondo emerging as a focal point. Institutional interest and strategic alliances position it to outperform less-established RWA projects. However, the SEC’s final decision and broader market dynamics will ultimately determine its trajectory. Investors are closely monitoring regulatory developments and on-chain metrics for signals of long-term viability. Sources: [1] [Here is why Ondo token jumped 8%](https://crypto.news/here-is-why-ondo-token-jumped-8/) [2] [Ondo(ONDO) Price prediction](https://www.bitget.com/price/ondo/price-prediction)