- The ONDO price correction is entering the apex of a falling wedge pattern, signaling a potential for bullish reversal.
- 21Shares filed a fresh amendment with the SEC to change the product name from “Ondo Trust” to “Ondo ETF.”
- The 20-and-50-day exponential moving averages acts as immediate dynamic resistance against crypto buyers.
Ondo, the native governance token of Ondo Finance, recorded a slight downtick of 1.3% on February 8th. The pullback aligns with broader crypto sentiment as the market is still stabilizing from the flash crash earlier this week. That said, the ONDO price shows potential for strong rebound as it is nearing the apex of a classic bullish reversal pattern amid ETF development. Will the coin price regain the $0.35 mark?
21Shares Rebrands Ondo Trust to Spot ONDO ETF in New SEC Filing
Asset manager 21Shares has submitted a new amendment to the U.S. Securities and Exchange Commission to revise its offer of a spot fund backed by a token of ONDO Finance called the ONDO token. The update, dated February 6, 2026, involves changing the name of the vehicle from “21Shares Ondo Trust” to “21Shares Ondo ETF” and refers to the planned trading platform, Nasdaq.
The fund would directly hold ONDO tokens, while tracking the market value of the tokens using the CME CF Ondo Finance-Dollar Reference Rate, which is made up of major exchanges, such as Coinbase and Kraken. Custody is split between Coinbase Custody and BitGo, providing offline secure storage with limited internet access for the day-to-day management. Shares creation and redemption are done in blocks of 10,000 through the authorized participants, in cash, not in kind token transfers, in the most recent structure.
Ondo Finance is focused on tokenizing traditional assets – U.S. Treasuries, Bonds, etc. to the blockchain for improved liquidity and access in decentralized environments. ONDO is a governance and utility token of this ecosystem, having a maximum supply of 10 billion, and having about half of it unlocked and circulating in recent times.
No leverage, staking or active trading features are applicable and the set-up is passive. The timeline for SEC review results in potential effectiveness in the late February to mid-April 2026 time frame, but results will depend on regulatory focus on disclosures, security measures, and market conditions.
This step comes following an initial filing in mid-2025 which reflects sustained interest in regulated access to real world asset protocols in the broader context of crypto product evolution.
ONDO Price Poised for Major Breakout From Wedge Pattern
In the last two weeks, the ONDO price showed a steep correction from $0.358 to $0.2, before briefly reverting to $0.259 mark. An analysis of the daily chart shows this pullback is positioned within the formation of a falling wedge pattern.
Since September 2025, the coin price has resonated strictly within the pattern’s two converging trendlines, acting as dynamic resistance and support. The chart setup is commonly spotted at the end of a correction trend and gives a strong entry point in the market as price breaks its upper boundary.
Currently trading at $0.259, the ONDO price is just 7.5% away from rechallenging the pattern’s upper boundary, at $0.276. A potential breakout from this resistance will bolster buying pressure and reverse the prevailing correction trend.
If breakout sustains with daily candle closing, the coin price could jump to $0.35, followed by $0.47.
On the contrary, if the sellers continue to defend the key resistance trendline, the ONDO price could revert lower and prolong its correction within the wedge. The downsloping nature of key EMAs (20, 50, 100, and 200) indicate the broader trend in bearish.
Also Read: China Blocks Offshore Issuance of Yuan-Backed Stablecoins
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