Trump Media, in collaboration with Crypto.com, has announced plans to launch a new series of exchange-traded funds (ETFs) for international markets. The agreement has propelled CRO's cryptocurrency value to rise significantly.
New ETFs to Launch Internationally
According to a statement from Trump Media, which operates platforms like Truth Social and Truth.Fi, a series of ETFs is targeted for release later this year. The funds will be available through Foris Capital US LLC, Crypto.com’s broker-dealer, and are expected to be open to investors in the US, Europe, and Asia once regulatory approvals are granted.
Crypto.com's Role and Infrastructure
As part of the agreement, Crypto.com will provide the infrastructure and custody services for the new ETFs. Additionally, the company will supply 'Made in America' cryptocurrencies for the fund. The basket of digital assets might include crypto market leaders such as Bitcoin (BTC) and Ethereum (ETH), alongside smaller altcoins like XRP, Solana (SOL), and Cronos (CRO).
Market Reaction to the Announcement
Following the partnership announcement, the value of CRO cryptocurrency surged over 34%, with a 24-hour trading volume spike of 1,286%, according to CoinMarketCap. Additionally, Trump Media & Technology Group's stock also climbed over 3% during yesterday's trading session.
The new partnership between Trump Media and Crypto.com represents a significant step forward in the development of crypto financial services. The international ETF launch is expected to garner substantial attention and investment, promoting further cryptocurrency adoption.
