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21Shares has applied for an ONDO Spot ETF, with increased attention on RWA Tokens under the Trump administration.
On the 22nd, the Swiss investment company 21Shares submitted an application to the U.S. SEC for a physical ETF tracking the cryptocurrency ONDO of the reality asset tokenization platform "Ondo Finance." It is attracting attention as a cryptocurrency product for institutional investors.
ONDO Finance is a decentralized finance platform established in 2021 by former Goldman Sachs affiliates Nathan Altman and Pink Slan. It offers services specializing in the tokenization of real-world assets such as U.S. Treasuries and money market funds.
The platform is also connected to World Liberty Financial, which has strong ties to the Trump family. World Liberty previously purchased approximately $500,000 worth of ONDO for asset management.
ONDO Finance announced on July 17 that it will introduce the tokenized product "USDY," backed by short-term U.S. Treasury bonds and bank deposits, on the high-speed L1 blockchain Sei Network. USDY features the ability to earn interest just by holding it, providing access to institutional-grade yield products as the first tokenized U.S. Treasury bond on Sei.
Ripple announced on the 11th of this month that the real asset token "OUSG" provided by ONDO has been launched on the XRP blockchain "XRP Ledger."