Breaking: 21Shares Files For Ondo ETF, ONDO Price Spikes
Highlights
- 21Shares files for ONDO ETF, aims to track token’s dollar value.
- Passive ETF to use Coinbase Custody, excludes leverage and derivatives.
- ONDO price jumps 2.3% after filing and market cap hits $3.44 billion.
21Shares has registered with the U.S. Securities and Exchange Commission (SEC) a new exchange traded fund (ETF) tracking the Ondo token (ONDO). This proposed 21Shares Ondo Trust will own ONDO directly and the underlying goal is to replicate the dollar value of ONDO without leverage or derivatives. The ETF will use Coinbase Custody for safekeeping and track the CME CF Ondo Finance-Dollar Reference Rate.
21Shares Proposes Passive ONDO ETF
The SEC filing introduces the “21Shares Ondo Trust” and marks the latest move by the firm to expand its lineup of crypto investment products. According to the preliminary prospectus, the Ondo ETF will operate as a passive fund.
It will track the CME CF Ondo Finance-Dollar Reference Rate. This benchmark is managed by CF Benchmarks Ltd and aggregates executed ONDO trades across leading crypto exchanges. Shares of the ETF are expected to list on a national exchange, though the specific venue and ticker symbol were not disclosed.
Meanwhile, Coinbase Custody Trust Company will serve as the Ondo ETF custodian. It will hold all the fund’s ONDO tokens on behalf of the Trust in secure, segregated accounts. These will primarily be maintained in cold storage to ensure security against theft and loss.
Filing Sparks ONDO Price Surge
The Trust will not be registered under the Investment Company Act of 1940. Therefore, the proposed Ondo ETF will not be subject to its investor protections.
The product also won’t offer protections from ONDO price volatility. As stated in the filing, the ONDO token itself is not registered as a security.
The registration statement remains subject to SEC review and is not yet effective. ONDO price rose following the announcement as market participants reacted to the Ondo ETF filing news.
The token’s price increased to $1.08, gaining 2.3% in 24 hours. Also, its market cap increased to $3.44 billion, while daily trading volume exceeded $343 million. As of now, no launch date has been set for the fund.
Earlier, Donald Trump’s Truth Social had filed for a crypto blue chip ETF. The ETF contained coins like Bitcoin, Ethereum, Solana, XRP, and Cronos.
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
- L2 Unity Launches 50M Token Airdrop Across Arbitrum and Optimism, Eligibility Open for 100K Wallets
- Tom Lee’s Bitmine Adds 5,000 ETH Despite $7.5B Unrealized Loss as BMNR Stock Rebounds
- CLARITY Act Should Ban Stablecoin Yields to Advance in Senate, French Hill Says
- U.S. Set to Deploy Warships to Keep the Strait of Hormuz Open, Bitcoin Climbs
- Crypto Market Retraces as Iran Vows to Escalate Conflict After U.S. Strikes on Kharg Island
- Official Trump Price Prediction As TRUMP Token Soars 50% Ahead Mar-a-Lago Invite Buzz for Top Holders
- Solana vs XRP Price Forecast: Can SOL Reclaim Its All-Time High Before XRP Hits $2?
- Top Analyst Predicts Cardano Price Could Surge 100% As Bitcoin Breaks $72k
- What’s Keeping Shiba Inu Below $0.0000065- Analyst Predicts 30% Rise Ahead
- Will BTC Price Rally to $100K by 2026? Kalshi and Polymarket Odds Climb to 51%
- Why Pi Network Price Surged 30% Today?
