Trump to Launch Crypto ETFs and ETPs

For anyone who wondered what happened to Cronos (CRO) for the past few days, with a surge of 40% intra-day at some point, we have the answer: Trump Media and Technology Group (TMTG) partnered with Crypto.com to launch a series of ETFs and ETPs (exchange-traded products).

CRO will be part of the basket of the ETFs, alongside BTC and other unnamed digital assets and US-based securities.

Trump Media will also use its cash reserves to invest in these ETFs.

Crypto.com app will also serve as one of the points from which these ETFs could be bought. They will also provide the custody of the cryptocurrency.

The ETFs will be managed by Trump Media's financial services brand, Truth.Fi, while Crypto.com’s broker-dealer, Foris Capital, is facilitating the offering.

So, Crypto.com is quite heavily involved in this, through their token, their brokerage firm, custody of crypto, and their app. And of course, we know they like to make deals that put them in the spotlight and visible.

These ETFs would also be available through various platforms and brokerage firms in the US, Europe, and Asia after they receive the regulatory go-ahead, and expected to be launched "later this year".

One thing is clear. Trump could do well for crypto prices after all, but only if he and his family has something to win out of it. This is at least more honest than winning while hiding it, which I'm sure most politicians do, whatever is the field they touch or where they are from (mostly).

This is another decent indicator we will have a "normal" end of the bull market, that wasn't cut short, as enough people have thought at one point. They wouldn't plan to launch these ETFs in a bear market.

Posted Using INLEO