Delaware on High Alert for Ondo Finance Control Disputes
Ondo Finance's governance structure is pointing to Delaware as the likely venue for any disputes related to control, according to recent filings. The 21Shares Ondo Trust amended S-1 filing on February 6, 2026, designates the courts of the State of Delaware and federal courts in Wilmington as the exclusive forum for certain claims and disputes.
The same filing discloses a related-party transaction: Flux Finance Inc. purchased 2,000,000 shares of beneficial interest in the trust, valued at $38,032,661 denominated in ONDO.
Ondo operates through a multi-jurisdictional setup, with certain governance and U.S.-facing products situated in Delaware entities, while other wrappers are domiciled offshore. The exclusive forum clause in the trust agreement makes Delaware courts the default venue for covered disputes.