ONDO Token Jumps 20% as 21Shares Files for SEC-Approved ETF, Signaling Institutional Crypto Adoption

ONDO Finance's native token experienced a significant rally following 21Shares' submission of a proposal to the SEC for an exchange-traded product linked to the asset. This filing represents a potential turning point for institutional adoption of cryptocurrency-based real-world asset exposure.

Technical indicators reveal strong bullish momentum, with ONDO surpassing a key resistance level at $1.12 after months of trading between $0.50 and $0.70. Analysts suggest that a sustained close above $1.15 could lead to further gains, potentially reaching $1.75.

On-chain metrics show accelerated network growth, with a 35% increase in new addresses and a 16% rise in active users. Holder data indicates growing interest from both long-term investors (+12%) and short-term traders (+15%), who are accumulating positions.