Crypto.com’s Cronos (CRO) Jumps 18% After Trump Media ETF Proposal Lists Token Amongst Holdings
Cronos (CRO), the native token of the Crypto.com blockchain, surged practically 18% to $0.095 Wednesday following information that it might be included in a brand new exchange-traded fund (ETF) backed by Trump Media & Expertise Group.
The proposed ETF, which is awaiting approval from the U.S. Securities and Change Fee, would observe a basket of 5 cryptocurrencies: bitcoin
, ether (ETH), solana (SOL), XRP (XRP) and cronos (CRO). If authorised, CRO would make up 5% of the fund’s weighting—its smallest part, however nonetheless a notable addition for a token that’s not often featured in main institutional merchandise.
That information despatched CRO hovering from about $0.08 Tuesday morning, outpacing the broader crypto market. The CoinDesk 20 Index, which tracks the highest digital property, rose simply 2.8% over the identical interval.
Whereas the bump is critical, CRO stays a shadow of its former self. The token peaked at $0.69 in November 2021 over the last bull market. It noticed a short-lived revival in December 2024, rising to $0.21 amid a market rally that adopted Donald Trump’s election to a second time period. That rally, nonetheless, light quick.
The ETF improvement has introduced new consideration to CRO, a token that powers Crypto.com’s ecosystem together with its trade and funds app. Nonetheless, the token has an extended climb to succeed in its former highs. Merchants look like reacting to the opportunity of elevated institutional publicity, however the SEC has but to approve the fund.
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