The 21Shares Ondo ETF is a proposed spot Ondo (ONDO) exchange-traded fund filed by 21Shares with the U.S. Securities and Exchange Commission. If approved, the fund would directly hold ONDO tokens, the native utility token of the Ondo Chain, a Layer 1 blockchain built for institutional-grade tokenized financial markets and track their performance using the CME CF Ondo Finance-Dollar Reference Rate.

Ondo Finance is a leading platform in the real-world asset (RWA) tokenization space, offering products such as OUSG (tokenized U.S. government bonds) and USDY (yield-generating tokenized assets). The ETF would provide regulated, passive exposure to ONDO and the broader tokenized RWA market through a familiar brokerage product. The original S-1 was filed on July 22, 2025, with an amended S-1/A filed on February 6, 2026 designating Nasdaq as the intended listing exchange.

The fund uses a dual-custodian model with Coinbase Custody Trust Company and BitGo Bank & Trust, with assets expected to be held primarily in cold storage. 21Shares US LLC serves as the sponsor. The earliest approval window is estimated between late February and mid-April 2026, pending SEC review.