The company 21Shares has filed a preliminary application with the U.S. Securities and Exchange Commission (SEC) to create the ETF '21Shares Ondo Trust'. The fund will directly hold ONDO tokens and track their value according to the CME CF Ondo Finance–Dollar Reference Rate.
For asset custody, they have engaged Coinbase. Investors will be able to create and redeem shares both in cash dollars and by transferring the actual tokens.
ONDO is a utility token of the Ondo Chain network, focused on institutional issuance of tokenized real-world assets. Its market capitalization is approximately $3.5 billion.
One of the holders of ONDO is the platform World Liberty Financial, associated with the family of Donald Trump. The company purchased tokens worth $250,000
