21Shares Revised U.S. Change Traded Fund Utility Monitoring Particulars $ONDOthe native token of a real-world asset tokenization platform. The crypto ETP firm filed an amended S-1 doc with the U.S. Securities and Change Fee on Thursday.
Bloomberg ETF analyst Eric Balciunas referenced the event late Friday in a response submit on social platform X, joking that the product's identify “seems to be like a planet from Star Wars.”
21 shares utilized for Ondo ETF. I've by no means heard the identify earlier than, nevertheless it sounds just like the identify of a planet from Star Wars. pic.twitter.com/qtXql94nfO
— Eric Balchunas (@EricBalchunas) February 6, 2026
The S-1/A submitting is a follow-up to 21Shares' preliminary submitting of 21Shares Ondo Belief, which the SEC posted on its web site on July 22, 2025. The issuer is at present rebranded The so-called belief has been named the 21Shares Ondo ETF, and pending regulatory approval, the corporate has designated Nasdaq as its supposed itemizing vacation spot.
21Shares is the primary asset administration firm to wrap $ONDO Publicity to conventional middleman merchandise.
21 inventory revision $ONDO ETF proposal
Based on the unique S-1 doc, 21Shares mentioned within the memo that the belief could be a passive fund. it’ll maintain $ONDO Monitor greenback costs utilizing third-party benchmarks $ONDO.
Preliminary filings outlined that shares could be created and redeemed by means of giant blocks referred to as “baskets” dealt with by broker-dealers. Nevertheless, the revised proposal specifies the basket measurement as blocks of 10,000 shares per basket. Basket measurement impacts how market makers arbitrage premiums and reductions within the secondary market.
The proposed amendments additionally enable brokers to problem shares by depositing money with a fund's money custodian. Sponsor will then robotically direct the third occasion to buy the product. $ONDO Ship the tokens required for that order to the fund's custodial account.
If an Licensed Participant redeems money, Sponsor will direct the switch to the Custodian. $ONDO Promote tokens to designated counterparties and deposit money proceeds into the Fund's money account for settlement. The prospectus states that any slippage or transaction prices related to the era or redemption of money can be borne by the Licensed Members and never by the Belief or the Sponsor.
Paperwork submitted in July final 12 months acknowledged that the belief would hold the property. $ONDO With a single regulated third-party custodian, Coinbase, the modification provides BitGo Financial institution & Belief, NA and adjustments to a twin custodian mannequin.
BitGo is a federally chartered nationwide belief financial institution and acquired nationwide banking constitution from the Workplace of the Comptroller of the Forex final December.
The S-1/A prospectus additionally introduces “Vault Stability” and distinguishes between “Chilly Vault Stability” and “Scorching Vault Stability.” Sponsors say they count on belongings and keys to be stored in chilly storage on an ongoing foundation, with scorching wallets often used for funds.
The SEC's new formal course of for approving exchange-traded funds supplies three revised evaluation pathways. In one of the best case state of affairs, $ONDO ETF registration will start 20 to 75 days after the modification, with the earliest attainable date being from late February to mid-April 2026.
Ondo Finance RWA footprint and WLF relationship
$ONDO It entered political headlines by means of World Liberty Monetary, a DeFi undertaking partnered with President Donald Trump's household. Final 12 months, WLF bought $500,000 price of tokens for a multi-asset treasury.
In different associated information, ConsenSys' MetaMask tapped Ondo Finance to supply tokenized securities. Based on the press assertion launched The pockets service supplier on Tuesday enabled eligible MetaMask customers in nations exterior the US to entry 200 tokenized US shares, ETFs, and devices together with gold and silver on Ethereum.
Customers achieve tokenized publicity by means of MetaMask Swaps by exchanging Circle’s USDC stablecoin for Ondo World Markets tokens. Nevertheless, this product isn’t out there to customers in the USA, Canada, the UK, and a few jurisdictions within the European Financial Space.
