Trump Media files for two new crypto ETFs tied to Bitcoin, Ether, Cronos

US President Donald Trump’s media conglomerate, Trump Media & Technology Group, has filed paperwork with the United States Securities and Exchange Commission (SEC) for 2 caller exchange-traded funds (ETFs) linked to large cryptocurrencies.

According to a Friday announcement by its Truth Social Funds arm, the institution plans to motorboat the Truth Social Bitcoin (BTC) and Ether (ETH) ETF alongside the Truth Social Cronos (CRO) Yield Maximizer ETF. The filing has not yet taken effect and remains taxable to SEC review.

“We program to supply an concern level for investors covering aggregate aspects of integer and crypto investing with some superior appreciation and income opportunities,” Steve Neamtz, president of Yorkville America Equities, which volition enactment arsenic concern advisor for some funds, said.

The funds would beryllium developed successful concern with crypto speech Crypto.com, which is expected to supply custody, liquidity and staking services if regulators o.k. the products. Investors would entree the ETFs done the exchange’s broker-dealer, Foris Capital US LLC. Each merchandise is expected to complaint a 0.95% absorption fee.

Related: ETH ETF holders successful ‘worse position’ than BTC ETF peers arsenic crypto marketplace looks for bottom

Proposed ETFs to way BTC, ETH and CRO with staking rewards

The Bitcoin and Ether money aims to way the combined show of the 2 largest cryptocurrencies by marketplace capitalization, portion besides capturing staking rewards generated by Ether. The Cronos Yield Maximizer ETF, meanwhile, is designed to travel the show of CRO, the autochthonal token of Crypto.com’s Cronos blockchain, and see staking income.

Trump Media, champion known for operating the Truth Social societal network, has progressively explored cryptocurrency initiatives.

In April past year, Trump Media announced a woody with Crypto.com and Yorkville America Digital to motorboat a set of “Made successful America” ETFs combining integer assets and accepted securities, including sectors specified arsenic energy.

In September, the steadfast besides reached a woody with Crypto.com to make a associated treasury entity centered connected accumulating the CRO token, opening with an archetypal acquisition of astir 684.4 cardinal CRO worthy astir $105 cardinal done a premix of banal and cash.

Related: Spot Bitcoin ETFs adhd $167M, astir erase past week’s outflows

Spot Bitcoin ETFs spot weeks of consecutive outflows

Spot Bitcoin ETFs person seen 4 consecutive weeks of nett outflows, with the latest play fig showing $360 cardinal successful withdrawals, according to information from SoSoValue.

Spot Bitcoin ETFs outflow streak. Source: SoSoValue

The information besides shows volatile but net-negative flows crossed precocious January and aboriginal February. The largest caller withdrawals included $817.87 cardinal connected Jan. 29, $509.70 cardinal connected Jan. 30 and $544.94 cardinal connected Feb. 4. Positive sessions were smaller, specified arsenic inflows of $561.89 cardinal connected Feb. 2, $371.15 cardinal connected Feb. 6, $166.56 cardinal connected Feb. 10 and $145.00 cardinal connected Feb. 9, with lone $15.20 cardinal entering connected Friday.

Big questions: Would Bitcoin past a 10-year powerfulness outage?