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BULLISH 📈 : Trump Media Files For Cronos, Bitcoin‑Ether ETFs With Staking Focus
Trump Media Enters Crypto ETF Market
- Trump Media & Technology Group, linked to Donald Trump, is expanding into cryptocurrency markets.
- Truth Social Funds, an affiliate, has filed with the SEC to launch two cryptocurrency ETFs.
Details of Proposed ETFs
- Plans include a Cronos Yield Maximizer ETF and Bitcoin (BTC) and Ethereum (ETH) ETFs.
- The Cronos-focused ETF aims to provide exposure to Cronos (CRO) while capturing staking rewards.
- The second fund will track BTC and ETH performance, incorporating Ether staking yields.
- Crypto.com will provide custody, liquidity, and staking services for these funds.
- Yorkville America Equities named as investment adviser with a 0.95% annual management fee.
Strategic Partnership and Market Context
- A strategic partnership was formed last year between Trump Media and Crypto.com.
- Trump Media was set to acquire 684.4 million CRO tokens at approximately $0.153 each.
- Bitcoin remains below $70,000 despite recent gains of about 5% in 24 hours.
- Shares of Trump Media rose by 2.5%, trading near $11.18.