Trump Media & Technology Group has filed with the U.S. Securities and Exchange Commission for an ETF based on bitcoin, ether and Cronos, Cointelegraph reported on Feb. 14 local time.
The filing was made through Trump Media's Truth Social Fund division and included the Truth Social Bitcoin and Ethereum ETF and the Truth Social Cronos Yield Maximisation ETF. Whether the SEC will approve them has not yet been decided.
The ETFs are expected to be developed in cooperation with Crypto.com. Crypto.com plans to provide custody, liquidity and staking services. Investors can access them through Crypto.com broker-dealer Foris Capital US LLC, and each ETF's management fee is set at 0.95 percent.
The bitcoin and ether ETF seeks returns based on the market capitalisation of the two cryptocurrencies and includes ether staking rewards. The Cronos yield maximisation ETF is designed to reflect the performance of CRO, the native token of the Cronos blockchain, and staking returns.
Trump Media last April announced a Made in America ETF combining digital assets and traditional securities in cooperation with Crypto.com and Yorkville America Digital.
Chi-gyu Hwang
delight@d-today.co.kr