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 monitor a basket of 5 cryptocurrencies: bitcoin
, ether (ETH), solana (SOL), XRP (XRP) and cronos (CRO). If authorized, CRO would make up 5% of the fund’s weighting—its smallest element, 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, nevertheless, light quick.
The ETF growth 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 a protracted climb to achieve its former highs. Merchants seem like reacting to the potential of elevated institutional publicity, however the SEC has but to approve the fund.
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