Trump Media Files For Cronos, Bitcoin‑Ether ETFs With Staking Focus
Companies linked to President Donald Trump are increasing their presence within the cryptocurrency business, with the Trump Media & Technology Group taking one other formal step into digital asset markets.
Truth Social Funds, an affiliate of Trump Media, has submitted a registration assertion to the US Securities and Exchange Commission (SEC) searching for approval to launch two new cryptocurrency trade‑traded funds (ETFs).
Trump Media Latest Crypto Proposal
The filings define plans for Crypto.com’s native token, Cronos (CRO), the Cronos Yield Maximizer ETF, and the Bitcoin (BTC) and Ethereum (ETH) ETFs.
The Cronos-focused product is designed to supply publicity to CRO, the native token of the Cronos blockchain, whereas additionally capturing staking rewards related to holding the asset.
The second fund would monitor the efficiency of Bitcoin and Ethereum, the 2 largest cryptocurrencies by market worth, and incorporate Ether staking yields into its technique.
Under the proposed construction, Crypto.com would play a central operational position. The digital asset platform is ready to supply custody, liquidity, and staking companies for the funds. Meanwhile, Yorkville America Equities has been named because the funding adviser, with the filings indicating a 0.95% annual administration payment.
Bitcoin Struggles Below $70,000
Friday’s announcement builds on a broader strategic partnership fashioned final yr between Trump Media and Crypto.com. As a part of that agreement, Trump Media was set to amass 684.4 million Cronos (CRO) tokens at an approximate value of $0.153 per token.
The transaction was structured as a 50% inventory and 50% money trade and included the creation of a Trump Media Group CRO Strategy geared toward integrating Cronos into the corporate’s broader digital asset plans.
The growth into crypto-linked funding merchandise comes at a time when Bitcoin continues to face technical resistance. Although the main cryptocurrency has posted good points of roughly 5% over the previous 24 hours, it stays unable to decisively break above the $70,000 stage.
Shares of Trump Media (DJT) additionally moved modestly increased throughout Friday’s buying and selling session, rising about 2.5% to commerce close to $11.18.
Featured picture from OpenArt, chart from TradingView.com