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I just came across something interesting. Related to Trump, Truth Social is applying to the U.S. Securities and Exchange Commission for a cryptocurrency exchange-traded fund, aiming to launch Truth Social Bitcoin and Ethereum ETFs. Currently, Bitcoin is around $74k, and Ethereum is over $2,300; both are mainstream assets on crypto exchanges.
Even more interesting, they also applied for a second fund called Truth Social Cronos Maximization ETF, which will invest in and stake Cronos tokens. Right now, the CRO price is about $0.07. This product is quite unique; unlike typical spot ETFs that are just passive holdings, it also generates returns through staking.
It's said that if approved, they will team up with a major partner to launch these funds. Although they haven't received final approval from the SEC yet, this move is quite significant. A political brand entering the crypto exchange space—this is really intriguing. Do you think these themed ETFs could become a new trend?