Asset manager 21Shares has taken a major step toward offering investors easier exposure to Ondo by submitting a filing for a new ETF. The fund, designed to passively reflect ONDO’s market price, would hold the token directly, no leverage, no derivatives involved.
According to the filing, custody of the tokens would be handled by Coinbase Custody, with the ETF tracking a dollar-based reference rate built on ONDO trades from multiple exchanges. The fund aims to provide simple, transparent exposure to ONDO’s price action.
While it doesn’t fall under the Investment Company Act of 1940, which governs investor protections for traditional mutual funds, the trust offers a more direct way for institutions and retail investors to tap into ONDO’s momentum.
The filing triggered a wave of excitement, with ONDO jumping to $1.08, a 2.3% gain in 24 hours. Market capitalization also swelled to $3.44 billion, and daily trading volumes soared past $340 million.
Though the ETF is still pending regulatory approval, the news marks another move in the growing trend of token-specific investment vehicles aimed at bridging crypto and traditional finance.
No official launch date or exchange listing details have been disclosed yet.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
