Trump Media and Technology Group is expanding its push into digital assets, filing for two new cryptocurrency exchange-traded funds tied to Bitcoin, Ether and the Cronos ecosystem.
Key Takeaways:
- Trump Media filed for two crypto ETFs tracking Bitcoin, Ether and the Cronos token.
- The Cronos fund would include staking rewards with Crypto.com providing custody and services.
- The move deepens ties between US politics and the growing crypto investment sector.
Truth Social Funds, the ETF arm of the company behind the Truth Social platform, submitted applications Friday for the “Truth Social Bitcoin and Ether ETF” and the “Truth Social Cronos Yield Maximizer ETF.”
The filings mark another step in the growing overlap between US politics and the crypto investment industry.
Truth Social ETFs Target Bitcoin, Ether and CRO With Staking Rewards
The proposed Bitcoin and Ether ETF would track the performance of the two largest cryptocurrencies, reportedly using an allocation weighted toward Bitcoin.
The Cronos product, meanwhile, would provide exposure to CRO, the native token of the Crypto.com-linked Cronos blockchain, while also offering staking rewards to investors.
Crypto.com is partnering with Trump Media on the products and is expected to provide custody, liquidity and staking services.
CEO Kris Marszalek said the company supports the funds and plans to enable trading access once they launch.
The new filings follow a previous agreement between the firms to introduce crypto investment products and continue a broader strategy by Trump Media to establish a presence in digital finance.
The company had already sought approval for a standalone Bitcoin ETF and a multi-asset crypto fund that included several major tokens.
The ETF market is increasingly competitive. Asset managers such as BlackRock, Fidelity and Grayscale already operate widely traded Bitcoin investment vehicles, giving investors indirect exposure to crypto without holding tokens directly.
Trump Media has also signaled interest in integrating blockchain beyond ETFs.
The company recently said it intends to distribute a new digital token to shareholders on the Cronos network and previously disclosed plans for a corporate crypto treasury involving CRO.
The expansion has drawn political scrutiny, with critics arguing the president’s business ventures could create conflicts of interest, particularly as regulatory decisions affecting digital assets are debated in Washington.
Last year, Trump Media also announced a partnership with Crypto.com to bring prediction markets to the social media platform, positioning it as the first publicly traded social media company to integrate such technology.
Bitcoin Loses 25,000 Millionaire Addresses Under Trump
As reported, Bitcoin has shed roughly 25,000 millionaire addresses in the year since Donald Trump returned to the White House, even as US policy shifted toward a more crypto-friendly stance.
Blockchain data shows the number of addresses holding at least $1 million in BTC fell about 16% year over year, suggesting regulatory optimism has not translated into sustained on-chain wealth growth.
The pullback was less severe among the largest holders. Addresses with more than $10 million in Bitcoin declined by about 12.5%, indicating that top-tier investors were better able to withstand price volatility, while wallets near the millionaire threshold were more exposed to market swings.
Much of the increase in Bitcoin millionaire addresses occurred before Trump took office, driven by a late-2024 rally fueled by election-related optimism and expectations of deregulation.
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