ONDO Surges 47% as Wallets Quadruple and ETF Filing Spur Institutional Adoption

ONDO is emerging as a focal point in the cryptocurrency market, driven by surging wallet creation, elevated futures open interest, and institutional moves toward tokenized finance. Recent on-chain metrics and institutional activity suggest a potential turning point for the real-world asset (RWA) integration project. Analysts highlight these developments as indicative of growing adoption and speculative momentum, though price volatility and regulatory outcomes remain key uncertainties.

Daily new wallet addresses on the ONDO network surged to 1,804 on July 23, 2025, quadrupling the prior week’s average. This spike followed a price rally that pushed ONDO from under $0.70 to $1.03 in July, according to data from Glassnode and tweets by analyst Ali Martinez. The correlation between wallet growth and price gains suggests strong retail and institutional participation, with rising demand for tokenized RWAs such as real estate and corporate debt. Analysts note that expanding wallet creation often precedes broader network adoption, particularly in projects bridging traditional finance and blockchain ecosystems [1].

Simultaneously, ONDO’s futures open interest approached $600 million by late July, according to Coinglass data. This marks a sharp rebound from March lows and signals renewed confidence among traders. The metric reflects both bullish sentiment and capital inflows, with open interest rising alongside price increases. Historical patterns indicate that such momentum could precede a breakout, though a 5.3% decline in the last 24 hours underscores ongoing volatility [2].

Institutional interest is further evidenced by 21Shares’ filing for a spot ONDO ETF with the U.S. Securities and Exchange Commission. The “21Shares Ondo Trust” would directly hold the token, enabling cash and in-kind share creation, with Coinbase Custody managing assets. While the announcement did not trigger an immediate price surge, ONDO has gained 15% over the past week. Analysts view the ETF filing as a milestone for tokenized finance, signaling growing institutional validation for RWAs [3].

ONDO’s strategic positioning as an RWA bridge is central to its appeal. With a mainnet launch scheduled for Q2 2025, the project aims to tokenize assets like real estate, offering transparency and liquidity typically absent in traditional markets. This aligns with broader industry trends toward asset tokenization, as seen in platforms like Hedera (HBAR), which have shown similar early-stage traction [4].

Despite these indicators, market analysts caution against overreliance on short-term metrics. The success of ONDO’s Q2 2025 roadmap, including its RWA framework execution and regulatory approvals for the ETF, will be critical. Tokenized finance remains in its infancy, and while ONDO’s ecosystem gains attention, its long-term viability hinges on adoption rates and macroeconomic conditions.

Sources:

[1] [Top Altcoins To Buy Today As Crypto Market Cools] [https://coinpedia.org/price-analysis/top-altcoins-to-buy-today-as-crypto-market-cools-before-next-bull-run/]

[2] [Is ONDO the Next Big Move? Wallets, Futures, ETF Say Yes] [https://coinmarketcap.com/community/articles/6883a8ce8fc05d4d2ae5da26/]

[3] [Spot ONDO ETF Incoming? 21Shares Moves First in the Race to Tokenized Finance Exposure] [https://www.blocmates.com/]

[4] [Hedera: Latest News, Social Media Updates and Insights] [https://cryptorank.io/news/hedera-hashgraph]