The price of Cronos (CRO) has shown significant growth after being included in a new ETF filing by Truth Social, owned by Donald Trump.
Overview of the situation with CRO
CRO's price skyrocketed by over 18%, hitting a one-week high, making it the top trending token for the day amidst a relatively quiet market. After months of sideways trading, the asset saw a significant uptick.
Details about the new ETF from Truth Social
Truth Social filed documentation with the U.S. Securities and Exchange Commission for a new ETF that will include BTC, ETH, XRP, and CRO. The launch of the ETF will depend on regulatory approval, and it is expected to start trading on NYSE Arca.
Partnership between Truth Social and Crypto.com
Trump Media Group announced its partnership with Cronos and the Crypto.com ecosystem back in March. As part of the ETF, Crypto.com will act as custodian for the assets. The CRO token will make up 5% of the ETF, while BTC will account for 70%.
The rise in the price of CRO and its inclusion in the Truth Social ETF highlight the potential impact on the cryptocurrency market and engagement with traditional financial structures.
