The sensor from my Dodge minivan is a Hall effect device. I had just connected 12 volts to the power lead and checked the output lead with a scope. As I recall, there was no level shifting.It only takes one transistor and three resistors to make a level changer. However, I am not certain about the I/O requirements of the ABS sensors. They are certainly cheap enough. And definitely sturdy enough.
Inside the headstock is a pretty dirty environment for any kind of optical sensor. Unless you never grease or oil anything in there. I would recommend a reluctance or an eddy current sensor counting the bull gear teeth. Plus as Jim indicated, that would give much higher resolution which could be important at very low spindle RPM.