👥 Truth Social is a major part of President Trump’s crypto empire. It has been planning an ETF launch for months. In early June, NYSE Arca filed a 19b-4 to launch a company-branded Bitcoin ETF. Today’s filing takes a broader approach, including several well-known altcoins alongside Bitcoin.
🏦 According to the SEC filing, Truth Social’s new product will primarily be a Bitcoin ETF. It will allocate 70% of its assets to Bitcoin, 15% to ETH, 8% to SOL, 5% to Cronos (CRO), and 2% to XRP. The company recently tried to create a joint BTC/ETH ETF. Now, the altcoin diversification is gradually increasing.
At first glance, it may seem odd that Cronos has such a significant position in the ETF, more than doubling the XRP share. Ripple has close ties to the president. For example, the company donated $5 million in XRP to Trump’s inauguration. Additionally, XRP is much more well-known than CRO. However, the fact that Truth Social has entered into a special agreement with Crypto.com to promote an altcoin ETF makes the inclusion of Cronos more understandable. The price of CRO has increased by more than 15% since the news.
