21Shares Revised U.S. Change Traded Fund Software 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 publish on social platform X, joking that the product’s title “appears like a planet from Star Wars.”
21 shares utilized for Ondo ETF. I’ve by no means heard the title earlier than, but it surely sounds just like the title 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 the moment rebranded The so-called belief has been named the 21Shares Ondo ETF, and pending regulatory approval, the corporate has designated Nasdaq as its meant itemizing vacation spot.
21Shares is the primary asset administration firm to wrap $ONDO Publicity to conventional middleman merchandise.
21 inventory revision $ONDO ETF proposal
In response to the unique S-1 doc, 21Shares mentioned within the memo that the belief can be a passive fund. it would maintain $ONDO Monitor greenback costs utilizing third-party benchmarks $ONDO.
Preliminary filings outlined that shares can be created and redeemed by way of giant blocks known as “baskets” dealt with by broker-dealers. Nevertheless, the revised proposal specifies the basket dimension as blocks of 10,000 shares per basket. Basket dimension impacts how market makers arbitrage premiums and reductions within the secondary market.
The proposed amendments additionally permit brokers to situation shares by depositing money with a fund’s money custodian. Sponsor will then routinely direct the third celebration 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 technology or redemption of money might be borne by the Licensed Contributors and never by the Belief or the Sponsor.
Paperwork submitted in July final 12 months acknowledged that the belief would preserve the property. $ONDO With a single regulated third-party custodian, Coinbase, the modification provides BitGo Financial institution & Belief, NA and modifications to a twin custodian mannequin.
BitGo is a federally chartered nationwide belief financial institution and obtained nationwide banking constitution from the Workplace of the Comptroller of the Foreign money final December.
The S-1/A prospectus additionally introduces “Vault Steadiness” and distinguishes between “Chilly Vault Steadiness” and “Sizzling Vault Steadiness.” Sponsors say they anticipate property and keys to be saved in chilly storage on an ongoing foundation, with scorching wallets sometimes used for funds.
The SEC’s new formal course of for approving exchange-traded funds offers three revised evaluation pathways. In the very best case situation, $ONDO ETF registration will start 20 to 75 days after the modification, with the earliest potential date being from late February to mid-April 2026.
Ondo Finance RWA footprint and WLF relationship
$ONDO It entered political headlines by way of World Liberty Monetary, a DeFi challenge 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. In response to the press assertion launched The pockets service supplier on Tuesday enabled eligible MetaMask customers in nations outdoors the US to entry 200 tokenized US shares, ETFs, and devices together with gold and silver on Ethereum.
Customers achieve tokenized publicity by way of MetaMask Swaps by exchanging Circle’s USDC stablecoin for Ondo International Markets tokens. Nevertheless, this product shouldn’t be obtainable to customers in america, Canada, the UK, and a few jurisdictions within the European Financial Space.
