Trump Media makes a bold move by partnering with Crypto.com to revolutionize the crypto ETF market. Could this collaboration boost institutional adoption of altcoins? Analyzing the implications and outlook for the industry.
Crypto.com, the major issuer of the Cronos token, has recently undergone some changes. Despite CRO experiencing a significant drop at the end of 2024, the exchange has ventured into new markets. Its partnership with Trump Media Group sparked a bullish cycle for the CRO token, hinting at the possibility of a future Cronos ETF.
According to the press release, Trump Media and Crypto.com have signed a non-binding agreement to launch a series of ETFs and ETPs. These index funds are expected to include digital assets as well as “Made in America” financial securities in sectors such as energy and cryptocurrencies, including Bitcoin and Cronos. However, these ETFs are subject to regulatory approval.
Despite Cronos reaching an annual high in December, the token has experienced a 30% decline since. This announcement has helped inject new liquidity, causing its price to surge by 18%. However, the actual implementation of a Cronos ETF appears to be in jeopardy.
Cronos Price. Source: TradingView
Indeed, the SEC has not yet received any ETF application for this token. Furthermore, the “Made in America” positioning of this project raises questions. While Crypto.com is based in Singapore, the American market remains its primary target. Lastly, a Cronos ETF led by former President Trump could turn out to be a major politico-financial scandal.
Despite these significant challenges, it is evident that Trump Media aims to establish a stronger presence in the crypto industry and diversify its investments. This partnership with Crypto.com would also enable them to increase their market share in the United States, challenging the leader Coinbase.
The likelihood of seeing an ETF Cronos in the near future seems slim. Nevertheless, the SEC may approve other ETFs based on altcoins in the coming months. The announcement of this project has certainly sparked a sharp increase in speculative interest around the CRO token. If you wish to invest in the Cronos (CRO) crypto, here’s how to do it on Bitget:
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