ONDO jumps over 5% as 21Shares files ETF, signaling RWA adoption boost

ONDO, a digital asset tied to the Ondo ecosystem, surged over 5% in the last 24 hours, driven by news that 21Shares, a leading digital asset manager, has filed for an ONDO exchange-traded fund (ETF). The filing, submitted via an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) on Tuesday, marks a significant development for the token, which ranks among the top 50 cryptocurrencies by market capitalization. The move positions ONDO as one of the few altcoins to gain traction amid a broader crypto market in consolidation mode.

The Ondo ecosystem focuses on tokenizing real-world assets (RWAs), including U.S. Treasury bonds and money market funds. In a strategic expansion, the platform recently acquired U.S.-regulated broker Oasis Pro and announced a $250 million RWA investment partnership with Pantera. These developments underscore growing institutional interest in tokenizing traditional financial instruments, a trend that could enhance ONDO’s utility and adoption.

21Shares’ ETF filing has intensified bullish sentiment for ONDO. The SEC is currently reviewing multiple altcoin ETF proposals, and if approved, 21Shares would become the first asset manager to launch an ETF tracking the token. This regulatory milestone could attract broader retail and institutional participation, potentially accelerating ONDO’s price trajectory. The token’s recent 20% gain over seven days, coupled with a 5% daily rise, suggests strong short-term demand. Technical indicators, including a bullish Moving Average Convergence Divergence (MACD) trend since June 24 and a Relative Strength Index (RSI) of 61, further support upward momentum.

Analysts note that ONDO’s current price action is supported by a key level around $0.98, with resistance at $1.26 and a longer-term target of $1.50. A successful breakout above $1.26 could reignite interest in the token, particularly if 21Shares’ ETF receives regulatory greenlight. However, the broader crypto market’s consolidation phase introduces uncertainty. A pullback to the $0.98 support level could test the token’s resilience, with further downside risk to $0.80 if bears regain control.

The filing highlights the growing intersection between traditional finance and digital assets. By tokenizing RWAs, Ondo Finance aims to bridge gaps in liquidity and accessibility, offering investors exposure to assets with lower volatility compared to speculative cryptocurrencies. The partnership with Pantera and the acquisition of Oasis Pro signal Ondo’s commitment to expanding its infrastructure, which could bolster confidence in ONDO as a stable, utility-driven token.

While the outcome of the SEC’s review remains pending, the filing itself represents a pivotal step for ONDO. If approved, the ETF could catalyze a new wave of institutional adoption, particularly among investors seeking diversified exposure to tokenized assets. The broader market’s reaction to 21Shares’ proposal will likely influence ONDO’s trajectory, with regulatory clarity serving as a critical catalyst. For now, the token’s performance reflects a blend of strategic momentum and speculative optimism, positioning it as a focal point in the evolving RWA landscape.