- Trump Media & Technology Group has filed with the SEC to launch a Bitcoin/Ether ETF and a Cronos ETF with staking rewards.
- The proposed funds are being developed with crypto exchange crypto.com, which would provide key services if approved.
- The filing comes as spot Bitcoin ETFs face significant outflows, with four consecutive weeks of net withdrawals.
- This marks another crypto-focused initiative from the company, following earlier deals to create “Made in America” ETFs and a joint treasury for CRO tokens.
Trump Media & Technology Group filed paperwork with the U.S. Securities and Exchange Commission on Friday for two new cryptocurrency exchange-traded funds. According to an announcement by its Truth Social Funds arm, the proposed products include a combined Bitcoin and Ether ETF and a Cronos Yield Maximizer ETF.
Steve Neamtz, president of investment adviser Yorkville America Equities, stated, “We plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing.” The funds would partner with crypto exchange Crypto.com for custody, liquidity, and staking services.
Consequently, the Bitcoin and Ether fund aims to track those assets while capturing staking rewards from Ether. Meanwhile, the Cronos ETF is designed to follow the performance of the CRO token and include its staking income.
This filing continues Trump Media‘s exploration of cryptocurrency initiatives. In April last year, the firm announced plans for “Made in America” ETFs combining digital and traditional assets.
Furthermore, it reached a deal in September to create a joint treasury entity centered on accumulating CRO tokens. This began with an initial purchase of roughly 684.4 million CRO, worth about $105 million.
However, this news arrives during a challenging period for existing spot Bitcoin ETFs. Data from SoSoValue shows four consecutive weeks of net outflows, totaling $360 million in the latest week. Significant single-day withdrawals have recently included $817.87 million on Jan. 29 and $544.94 million on Feb. 4.
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