Trump Related Truth Social Files for Bitcoin, Ethereum and CRO Staking ETFs
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Trump Media & Technology Group is expanding its push into digital assets by registering two new cryptocurrency exchange-traded funds linked to the Bitcoin, Ether, and Cronos ecosystems.
Key Takeaways:
Trump Media has launched two crypto ETFs that track Bitcoin, Ether and the Kronos token.
The Cronos Fund includes rewards for providing protection and services at Crypto.com.
The move cements the relationship between US politics and the growing crypto investment sector.
Truth Social Funds, the ETF arm of the company behind the Truth Social platform, filed applications Friday for the “Truth Social Bitcoin and Ether ETF” and the “Truth Social Cronos Yield Maximizer ETF.”
The filings mark another step in the growing overlap between US politics and the crypto investment industry.
True Social ETFs Target Bitcoin, Ether and CRO with Staking Rewards
The proposed Bitcoin and Ether ETF tracks the performance of the two largest cryptocurrencies, reportedly using a weighted allocation to Bitcoin.
The Cronos product, in turn, provides exposure to CRO, the native token of the Crypto.com-linked Cronos blockchain, as well as offering investors substantial rewards.
Crypto.com is expected to partner with Trump Media on its products to provide promotion, accounting and stock services.
CEO Chris Marszalek said the company plans to fund the fund and enable trading once it's launched.
The new documents follow an earlier agreement between the firms to introduce crypto investment products and a broader strategy to build a presence in Trump Media's digital finance.
The company sought approval for a standalone Bitcoin ETF and a multi-asset crypto fund that includes several major tokens.
The ETF market is increasingly competitive. Asset managers such as BlackRock, Fidelity and Grayscale already operate widely traded Bitcoin investment vehicles, giving investors indirect exposure to the crypto without directly holding the tokens.
Trump's media has expressed interest in integrating blockchain beyond ETFs.
The company recently announced plans to distribute a new digital token to shareholders on the Kronos network and previously announced plans for a corporate crypto treasury that includes CRO.
The expansion has drawn political scrutiny as critics argue in Washington that the president's business activities could create conflicts of interest, particularly regulatory decisions involving digital assets.
Last year, Trump Media announced a partnership with Crypto.com to bring prediction markets to the social media platform, making it the first publicly traded social media company to integrate such technology.
Bitcoin lost 25,000 millionaire addresses under Trump
As reported, Bitcoin has poured into nearly 25,000 millionaire addresses since Donald Trump returned to the White House, as US policy shifted to a more crypto-friendly stance.
Blockchain data shows that the number of addresses holding at least $1 million in BTC has decreased by about 16% year-on-year, which means that regulatory optimism has not translated into continued wealth growth on the chain.
The return among the largest owners was severe. Addresses with more than $10 million in Bitcoin fell by 12.5%, indicating that high-end investors are better able to withstand price volatility, while wallets near the millionaire threshold are more vulnerable to market volatility.
Much of the rise in Bitcoin millionaire addresses occurred before Trump took office, fueled by election-related optimism and out-of-control speculation in the late 2024 rally.
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