Cronos (CRO) has soared almost 35% in the last 24 hours following a major announcement from Trump Media & Technology Group (TMTG).
Details on Trump Media and Crypto.com Partnership
The company, started by former U.S. President Donald Trump, is entering the exchange-traded funds (ETFs) market through a new partnership with Crypto.com. TMTG is rolling out a new ETF series called Truth.Fi, which will include both cryptocurrencies and U.S.-focused securities. These ETFs, managed through Foris Capital US LLC, Crypto.com’s broker-dealer, will also cover key industries like energy that drive economic growth in the U.S.
Impact on Cronos Value and Market
Bitcoin and Cronos are among the key assets included in these ETFs, fueling a surge in CRO’s value. The token’s market cap has climbed to $2.95 billion, while its 24-hour trading volume has skyrocketed by 1,295.80% to $277 million.
Future of ETFs and Their Impact
TMTG CEO Devin Nunes said these ETFs will focus on companies that prioritize growth and are free from political bias. He emphasized that the goal is to provide investment options that align with American values and economic expansion. With Trump’s media company making a bold move into the ETF space and teaming up with Crypto.com, investors are now watching to see if this momentum will continue, especially for Cronos.
Trump Media's move into the ETF market in collaboration with Crypto.com has generated significant interest in the Cronos token, leading to its substantial growth. Investors are keen to see if this momentum will sustain in the future.
