Asset management firm 21Shares, as of Friday, February 6, 2026, filed a preliminary prospectus with the US Securities and Exchange Commission, which seeks permission for the launch of the 21Shares Ondo Trust, an ETF tracking the spot price of the token. 

This underlines increasing institutional interest in real-world asset tokenization and decentralized finance, excluding Bitcoin and Ethereum.

The fund will hold the tokens directly and store the assets in the custody of Coinbase. This ETF aims to list on the Nasdaq stock exchange and could be the first spot ETF in the US tied to an ERC-20 token with a focus on tokenized real-world assets.

Also Read: Ondo Finance Expands Tokenized Treasuries to Sei With USDY RWA Token

ONDO Forms Bullish Flag Breakout Could Target $0.30

Following the SEC filing by 21Shares for a spot ETF, the ONDO token is seeing initial indications of a favorable market response.

According to crypto analyst CryptoPulse, the token appears to be trying to continue its upward move from its recent recovery, as its short-term price action begins to build a constructive technical pattern.

The token has risen significantly from its recent lows and is consolidating, forming a bullish flag. This pattern usually suggests continuation after a strong run-up. This shows that the token is gaining traction before the ETF inflows.

Source: CryptoPulse X Post

The token is currently looking for a breakout confirmation above the flag’s resistance levels. If such a breakout occurs, it is likely that ONDO could aim for testing the price levels around $0.30 in the near term. 

However, if such a breakout is not observed, it is likely that the price could remain range-bound in the short term.

ONDO Signals Short-Term Recovery After Bearish Trend

ONDO on the 4-hour chart from TradingView, as of Saturday, 07 February, indicates an ongoing bearish trend, with the token’s price continuing to drop steadily from the $0.35 area and reaching recent lows near $0.23. 

Sellers have dominated most of the period, with lower highs and lower lows. However, recent candles show an uptrend, with the token’s price rising above $0.25.

Source: TradingView

The momentum indicators appear to be hinting at a stabilization in the price. The MACD is trying to achieve a bullish crossover as the histogram bars are rising from a long period of negative momentum. 

Additionally, the RSI has risen to around 46 levels after falling to an oversold zone. However, price is still facing resistance in the range of $0.27 to $0.30.

Also Read: ONDO Near $0.30 Zone Could Trigger Major Recovery