Trump Media and Technology Group is expanding its efforts into digital assets by filing two new cryptocurrency exchange-traded funds tied to Bitcoin, Ether and the Cronos ecosystem.
Key points to remember:
- Trump Media has filed for two crypto ETFs following Bitcoin, Ether and the Cronos token.
- The Cronos fund would include staking rewards, with Crypto.com providing custody and services.
- The move deepens the 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 for the “Truth Social Bitcoin and Ether ETF” and the “Truth Social Cronos Yield Maximizer ETF” on Friday.
These filings mark another step in the growing overlap between U.S. 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, apparently using a weighted allocation favoring 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 partners with Trump Media on products and is expected to provide custody, liquidity and staking services.
CEO Kris Marszalek said the company supports the funds and plans to provide access to trading once they launch.
The new filings follow an earlier agreement between the companies to introduce crypto investment products and continue a broader Trump Media strategy to establish a presence in digital finance.
The company had previously sought approval for a standalone Bitcoin ETF and a multi-asset crypto fund comprising several major tokens.
The ETF market is increasingly competitive. Asset managers such as BlackRock, Fidelity and Grayscale already operate widely traded Bitcoin investment vehicles, providing investors with indirect exposure to crypto without directly holding tokens.
Trump Media has also expressed interest in integrating blockchain beyond ETFs.
The company recently announced plans to distribute a new digital token to Cronos network shareholders and previously disclosed plans for a corporate crypto treasury involving CRO.
The expansion has drawn political scrutiny, with critics saying the president’s business plans could create conflicts of interest, especially 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 noted, Bitcoin has lost around 25,000 millionaire addresses in the year since Donald Trump returned to the White House, even as US politics has shifted toward a more crypto-friendly stance.
Blockchain data shows that the number of addresses holding at least $1 million in BTC fell about 16% year-over-year, suggesting that regulatory optimism has not translated into sustained growth in on-chain wealth.
The decline was less severe among the largest holders. Addresses holding more than $10 million in Bitcoin declined by about 12.5%, indicating that high-profile investors were better able to withstand price volatility, while portfolios near the millionaire threshold were more exposed to market fluctuations.
Much of the increase in Bitcoin millionaire addresses occurred before Trump took office, spurred by a late 2024 rally fueled by election-related optimism and expectations of deregulation.
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