Trump Media and Technology Group files two new crypto ETF proposals following SEC delay
Trump Media filed for two new crypto ETFs, one for Bitcoin/Ethereum and another for Cronos, after prior SEC delays.Summary
Following a delay by the U.S. Securities and Exchange Commission (SEC) on a previous suite of proposals, Trump Media and Technology Group Corp. (TMTG) has filed applications for two new crypto Exchange-Traded Funds (ETFs). One proposal is for a Bitcoin and Ethereum ETF, and the second is for a Truth Social Cronos Yield Maximizer ETF, which would track Crypto.com's native token, CRO. Both funds plan to offer access to network staking rewards, utilizing Yorkville America Equities as an advisor, and Crypto.com for custody, liquidity, and staking services. TMTG has an existing partnership with Crypto.com spanning several ventures. If approved, both new ETFs would carry a 0.95% management fee, with purchases facilitated by Crypto.com's broker-dealer, Foris Capital US LLC. The SEC had previously delayed decisions on TMTG's initial crypto fund proposals in August.
(Source：The Block)