On May 6, 2025, 21Shares launched an exchange-traded product (ETP) tracking the price of Cronos in the US, marking a new milestone in the altcoin fund wave. Could Cronos become the next focal point of the market? Let's analyze in detail.
21Shares Introduces Cronos ETP
Swiss investment firm 21Shares announced #ETPCronos on Tuesday, allowing US investors access to Cronos without direct ownership. Cronos is the native token of Crypto.com, facilitating interactions with decentralized finance (DeFi) platforms, NFTs, and Web3 applications, compatible with Ethereum and Cosmos. Currently, Cronos trades at $0.08636, down 1.54% in the past 24 hours (according to CoinMarketCap). Mandy Chiu, head of financial product development at 21Shares, emphasized: “The Cronos ETP provides easy, regulated access to a blockchain ecosystem that drives practical applications and pioneers the future of Web3.”
Altcoin Fund Trends in the US
The launch comes amid a flood of applications to the SEC for altcoin-based funds, reflecting growing demand. The spot Bitcoin ETF, approved last year, now manages over $100 billion, while the Ethereum fund has surpassed $7 billion (according to CoinGlass). With a more open attitude from the SEC, issuers are targeting altcoins like Solana, AVAX, and Sui. Cronos also drew attention when Trump Media and Technology Group (owned by Donald Trump) announced plans to create an ETF tracking both Cronos and Bitcoin alongside Crypto.com in March, causing Cronos' price to soar 30% to $0.10 (according to CoinGecko).
Impact on the Crypto Market
This event brings several signals:
Increased altcoin appeal: Cronos ETP could boost coins like Solana and $AVAX , especially as Bitcoin ETF attracted $1.8 billion last week.
Boosting Web3: The Cronos ecosystem (DeFi, NFT) could benefit, supporting trends like Notcoin (transitioning to Web3 gaming).
Increased cash flow: Crypto fund inflows reached $3.4 billion last week, with projections accumulating to $330 billion in Bitcoin by 2029 (Bernstein) reinforcing potential.
Future Prospects
Despite Cronos' recent 1.54% drop, support from 21Shares and Trump Media could help this coin grow in the next 1-2 years, especially if the SEC approves more altcoin funds. With the development of Web3, Cronos could play a crucial role in the crypto ecosystem.
Conclusion: Will Cronos Be the Next Altcoin Star?
#21Shares launched the Cronos ETP in the US, providing access to the Crypto.com ecosystem (DeFi, NFT, Web3) amid the altcoin fund wave. Although the price currently dropped by 1.54% ($0.08636), the potential from Trump Media and market demand promises a bright future. Investors should closely monitor to capitalize on opportunities from the new altcoin wave.
Risk warning: Crypto investment carries high risks due to price volatility and legal uncertainties. Please consider carefully before participating.