Total value locked in the Ondo ecosystem pushes above $600 million.
Ondo crypto is officially in the crypto ETF list, currently pending approval. This has emerged as one of the top crypto news stories this past week, despite being overshadowed by extremely bearish market conditions.
21Shares reportedly filed its prospectus for the Ondo ETF with the SEC on Friday. Analysts saw this as a major move for ONDO crypto because it will be among the first spot crypto ETF offering exposure to the real-world assets (RWAs) segment.
The latter is one of the key narratives in the market currently.
The excitement around the Ondo ETF is largely due to Ondo Finance being one of the top RWA platforms. This alone may attract robust institutional demand and potentially inject heavy liquidity flows into ONDO crypto.
The fact that Ondo ETF could soon be joining the list of existing crypto ETFs may be great news for its community. This is because the cryptocurrency has been trending down over the last few months.
For context, ONDO price is currently on its 5th consecutive week in the red. It exchanged hands at $0.25 at press time after a slight recovery on Friday, courtesy of demand resurgence while it was deep in oversold territory.
Ondo crypto ETF news has popped up after the cryptocurrency experienced heavy discounts. For reference, its press time was equivalent to an 88% discount from its historic top of $2.14 achieved in December 2024.
ETF prospects may thus cast the spotlight on ONDO crypto, which happens to have robust utility as the native token on Ondo Finance.
Being a participant in the RWAs segment is one thing, but achieving impressive growth in the segment is another. Ondo Finance happens to be one of the top crypto companies tapping deep into the growth potential that the tokenized world has to offer.
Ondo Finance registered impressive uptake in its services, especially in 2025. Nowhere was that growth more evident than in its total value locked (TVL).
The latest Ondo ETF development has further bolstered market confidence, signaling a potential rally ahead for its price.
The protocol’s TVL jumped from less than $200 million at the start of 2024, and it peaked at $2.71 billion on 2 February. A rapid surge in the number of tokenized assets on the platform, as well as rising demand, contributed to the aggressive TVL surge.
Although its TVL reflected healthy growth in the last 2-3 years, its liquidity status was not as straightforward. The liquidity flowing through the RWAs platform was significantly disrupted by bearish periods of the market.
The bearish market conditions that kicked off this year were an ideal example. ONDO liquidity fell from over $10 million in early January, to just over $3 million at the time of observation.
Despite the market tailwinds, Ondo Finance has demonstrated commitment to its cause. One of the latest examples of that commitment was its recently expanded support for the MetaMask wallet announced earlier this week.
This expanded support highlights its extensive approach to bringing accessibility to traditional assets into the DeFi world. However, it remained unclear whether these changes would impact ONDO crypto.
Afterall, its price action was a reflection of heavy impacts from external market factors.
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