Trump's media company will launch an ETF for investments in 'blue chip' cryptocurrencies
Trump Media & Technology Group (TMTG), which owns the social network Truth Social, has filed an application with the US SEC to launch the Truth Social Crypto Blue Chip ETF.
The new ETF is planned to be listed on the NYSE and will track the prices of five cryptocurrencies: Bitcoin (70%), Ethereum (15%), Solana (8%), as well as XRP from Ripple and the CRO token from CryptoCom.
CryptoCom will take care of the asset storage. The ETH, SOL, and CRO tokens are intended to be used for staking. Previously, TMTG had already submitted applications for an ETF focused solely on Bitcoin, as well as for a combined fund with BTC and ETH.
About 60% of TMTG's shares belong to Donald Trump.
The CRO token reacted to the news with an increase of about 10%, however, a similar rise began three hours before the application was published with the SEC. As a result, it increased by almost 20% in one day.
