Deep Tide TechFlow News, on July 23, The Block reported that 21Shares has submitted an S-1 application to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded product tracking the ONDO token. ONDO is the native token of the Ondo Finance platform, which focuses on tokenizing real-world assets (RWA) such as U.S. Treasury bonds and money market funds.
Ondo Finance was founded by former Goldman Sachs employees and recently announced plans to acquire the U.S. regulated broker Oasis Pro, and to collaborate with Pantera to advance a $250 million RWA investment plan. Notably, Ondo is associated with President Trump's World Liberty Financial DeFi project, which has purchased approximately $500,000 worth of ONDO tokens for its multi-asset portfolio.
Currently, dozens of cryptocurrency-related ETF proposals are awaiting SEC approval, and analysts have raised the approval probability for XRP, Dogecoin, and Cardano ETFs to 90%.
