CRO Surges After Truth Social’s Crypto Blue-Chip ETF Disclosure, XRP Underperforms
Main Idea
Truth Social, owned by Trump Media & Technology Group, filed for a Crypto Blue-Chip ETF with Bitcoin comprising 70% of the fund's holdings, followed by Ethereum, SOL, CRO, and XRP, leading to varied price movements among these cryptocurrencies.
Key Points
1. Truth Social filed for a Crypto Blue-Chip ETF with the US securities watchdog, with Bitcoin making up 70% of the fund's holdings.
2. Ethereum's ETH follows with 15%, while SOL (8%), CRO (5%), and XRP (2%) complete the fund's composition.
3. Bitcoin recovered from a drop below $108,000 but remains under its peak of over $109,600.
4. ETH and XRP saw a 1% increase in 24 hours, while SOL remained stable just above $150.
5. CRO was the biggest gainer, surging over 17% at one point before correcting to just under $0.09.
Description
Truth Social, the alt-tech social media platform owned and operated by Trump Media & Technology Group (TMTG), filed for a new Crypto Blue-Chip ETF with the US SEC. The document reveals which cryptocurrency assets it will support, and the disclosure resulted in a massive price surge for one of them. Trump’s Truth Social has filed for a Crypto Blue-Chip ETF, per new S-1. The proposed fund would hold: – $BTC – $ETH – $SOL – $XRP – $CRO A politically-backed push for mainstream crypto exposure — and ...
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