Coinbase Custody Role in 21Shares’ ONDO Spot ETF Filing Signals Institutional RWA Embrace

In a significant move for the tokenized real-world assets (RWA) sector, 21Shares has filed with the SEC for a spot ETF directly holding ONDO, the native token of Ondo Finance. The proposed 21Shares Ondo Trust, filed on February 7, 2026, aims to track the ONDO token's performance using the CME CF Ondo Finance-Dollar Reference Rate. A key institutional pillar of this filing is the selection of Coinbase, a publicly-traded and regulated U.S. crypto exchange, as the designated custodian for the ETF's underlying ONDO tokens. This custodianship is a critical component, providing the security, regulatory compliance, and institutional-grade infrastructure necessary for SEC approval and investor confidence. The filing represents a strategic expansion by 21Shares beyond Bitcoin and Ethereum ETFs, directly targeting the growing narrative of blockchain-based real-world asset tokenization. Ondo Finance focuses on bringing traditional financial assets like U.S. Treasuries onto the blockchain, and this ETF would offer investors a regulated, exchange-traded vehicle to gain exposure to this emerging subsector. The involvement of Coinbase Custody underscores the maturation of the crypto market infrastructure, bridging decentralized finance (DeFi) protocols with traditional securities markets. If approved, this product could unlock a new wave of institutional capital for RWAs, validating the tokenization thesis and further integrating digital assets into the conventional financial system. This development is bullish for the broader crypto ecosystem, as it demonstrates continued product innovation and regulatory progress for spot digital asset vehicles beyond the largest cryptocurrencies.

21Shares Files for Spot ONDO ETF with SEC

21Shares, a leading crypto asset manager, has submitted a Form S-1 registration statement to the U.S. SEC for a spot ETF tied to ONDO, the native token of Ondo Finance. The proposed 21Shares Ondo Trust WOULD hold ONDO tokens directly, tracking their performance via the CME CF Ondo Finance-Dollar Reference Rate. Coinbase is slated to provide custody services.

This ETF marks a strategic push into tokenized real-world assets, offering investors a regulated, passive vehicle for Ondo exposure. The filing underscores institutional interest in blockchain-based financial instruments as crypto markets mature.

Sui Network Partners With Coinbase to Adopt Sui Token Standard

Sui Network has forged a strategic partnership with Coinbase, enabling the exchange to support the sui token standard. This integration expands access to SUI tokens for both retail and institutional investors, marking a significant milestone in the Layer-1 blockchain's adoption.

Coinbase's MOVE follows its recent approval to trade SUI under New York's stringent BitLicense framework. The collaboration underscores growing institutional interest in Sui's ecosystem, with Coinbase serving as a gateway for regulated market participation.

The integration leverages Sui's Move programming language, designed to enhance security and scalability. Market observers anticipate increased liquidity and trading volume as one of the largest U.S. exchanges brings SUI to its 110 million verified users.