Trump Media and Expertise Group is increasing its push into digital belongings, submitting for 2 new cryptocurrency exchange-traded funds tied to Bitcoin, Ether and the Cronos ecosystem.

Key Takeaways:

• Trump Media filed for 2 crypto ETFs monitoring Bitcoin, Ether and the Cronos token.
• The Cronos fund would come with staking rewards with Crypto.com offering custody and companies.
• The transfer deepens ties between US politics and the rising crypto funding sector.

Reality Social Funds, the ETF arm of the corporate behind the Reality Social platform, submitted purposes Friday for the “Reality Social Bitcoin and Ether ETF” and the “Reality Social Cronos Yield Maximizer ETF.”

The filings mark one other step within the rising overlap between US politics and the crypto funding trade.

Reality Social ETFs Goal Bitcoin, Ether and CRO With Staking Rewards

The proposed Bitcoin and Ether ETF would monitor the efficiency of the 2 largest cryptocurrencies, reportedly utilizing an allocation weighted towards Bitcoin.

The Cronos product, in the meantime, would supply publicity to CRO, the native token of the Crypto.com-linked Cronos blockchain, whereas additionally providing staking rewards to buyers.

Crypto.com is partnering with Trump Media on the merchandise and is predicted to offer custody, liquidity and staking companies.

CEO Kris Marszalek stated the corporate helps the funds and plans to allow buying and selling entry as soon as they launch.

The brand new filings comply with a earlier settlement between the companies to introduce crypto funding merchandise and proceed a broader technique by Trump Media to determine a presence in digital finance.

The corporate had already sought approval for a standalone Bitcoin ETF and a multi-asset crypto fund that included a number of main tokens.

The ETF market is more and more aggressive. Asset managers equivalent to BlackRock, Constancy and Grayscale already function broadly traded Bitcoin funding autos, giving buyers oblique publicity to crypto with out holding tokens immediately.

Trump Media has additionally signaled curiosity in integrating blockchain past ETFs.

The corporate just lately stated it intends to distribute a brand new digital token to shareholders on the Cronos community and beforehand disclosed plans for a company crypto treasury involving CRO.

The enlargement has drawn political scrutiny, with critics arguing the president’s enterprise ventures may create conflicts of curiosity, notably as regulatory selections affecting digital belongings are debated in Washington.

Final 12 months, Trump Media additionally introduced a partnership with Crypto.com to deliver prediction markets to the social media platform, positioning it as the primary publicly traded social media firm to combine such expertise.

Bitcoin Loses 25,000 Millionaire Addresses Beneath Trump

As reported, Bitcoin has shed roughly 25,000 millionaire addresses within the 12 months since Donald Trump returned to the White Home, at the same time as US coverage shifted towards a extra crypto-friendly stance.

Blockchain information reveals the variety of addresses holding at the very least $1 million in BTC fell about 16% 12 months over 12 months, suggesting regulatory optimism has not translated into sustained on-chain wealth development.

The pullback was much less extreme among the many largest holders. Addresses with greater than $10 million in Bitcoin declined by about 12.5%, indicating that top-tier buyers have been higher in a position to stand up to worth volatility, whereas wallets close to the millionaire threshold have been extra uncovered to market swings.

A lot of the rise in Bitcoin millionaire addresses occurred earlier than Trump took workplace, pushed by a late-2024 rally fueled by election-related optimism and expectations of deregulation.

The publish Trump-Linked Reality Social Recordsdata for Bitcoin, Ethereum and CRO Staking ETFs appeared first on Cryptonews.