First-ever RWA tokenization ETF by Ondo Finance filed by 21Shares
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First-ever RWA tokenization ETF by Ondo Finance filed by 21Shares
21Shares files for the first U.S.-based ETF tied to a real-world asset (RWA) token, offering exposure to Ondo Finance’s ONDO token. The filing suggests a growing appetite among institutional investors for tokenized finance, with a focus on blockchain-based replicas of traditional financial products, in this case Treasuries. 21Shares is one of the leading players in this space, offering tokenized Treasury products.
21Shares has submitted a Form S-1 with the U.S. Securities and Exchange Commission (SEC) on July 23 for an ETF tracking ONDO, the native token of Ondo Finance. If passed, it would also be the first US-based ETF targeted at a token that supports a real-world asset (RWA) tokenization platform.
The filing—made under “21Shares Ondo Trust”—suggests a growing appetite among institutional investors for tokenized finance, with a focus on blockchain-based replicas of traditional financial products, in this case U.S. Treasuries. Earlier, on June 11, Ondo Finance launched tokenized US securities on the XRPL ledger via Ripple’s stablecoin.
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Ondo Finance is one of the leading players in this space, offering tokenized Treasury products such as OUSG to enable crypto-native users to access stable, yield-bearing assets. The Ondo module is the governance token and incentive layer for the platform, providing access to future financial products within the ecosystem.
According to 21.co, the firm behind 21Shares, over $1.5 billion of U.S. Treasuries have been tokenized, and the firm is a significant part of that aggregate.
The filing also comes at a time of a marked increase in interest in ETFs. Ethereum ETFs reported $533.8 million in inflows on a single day while cumulative net inflow stands at $8.32 billion, as per SoSoValue. Further, Bitcoin ETFs saw a cumulative inflow of $54.55 billion.
The two trends—more people wanting to invest in crypto ETs, along with institutions wanting tokenized RWAs—could be the start of a shift in crypto ETFs investing in more than just BTC and ETH.