21Shares Seeks SEC Approval for Spot ONDO ETF as Institutional Demand Grows

21Shares has filed an S-1 application with the SEC for a spot ETF linked to ONDO Finance's ONDO token, a major development for the real-world asset (RWA) sector. The altcoin, created by former Goldman Sachs executives, focuses on tokenizing treasury bonds and money market funds.

World Liberty Financial's recent $500,000 Ondo purchase highlights increasing institutional interest, with reported connections to Donald Trump's associates. Ondo's growth strategy includes acquiring broker-dealer Oasis Pro and collaborating with Pantera Capital on a $250 million RWA investment project.

The SEC now faces a growing list of altcoin ETF applications, including ONDO's. Bloomberg analysts recently raised approval probabilities for similar products like XRP and Cardano ETFs to 90% by year-end, indicating potential regulatory changes.