- Trump Media filed SEC paperwork for a BTC and ETH ETF, as well as a CRO Yield Maximizer ETF through its Truth Social Funds arm.
- US spot Bitcoin ETFs had four straight weeks of net outflows, with about $360 million withdrawn in the latest week.
Trump Media & Technology Group has submitted paperwork to the United States Securities and Exchange Commission for two new cryptocurrency exchange-traded funds. The proposed products are tied to Bitcoin, Ether, and Cronos. The filings now await SEC review.
The company said the planned lineup includes the Truth Social Bitcoin (BTC) and Ether (ETH) ETF, and the Truth Social Cronos (CRO) Yield Maximizer ETF. Yorkville America Equities is listed as the investment adviser for both funds. Steve Neamtz, president of Yorkville America Equities, said the goal is to offer investors exposure to digital assets with both capital appreciation and income opportunities.
Trump Media stated that the funds would be developed in partnership with the Crypto.com exchange. If approved, Crypto.com will provide custody, liquidity, and staking services. Investors would access the ETFs through Foris Capital US LLC, the exchange’s broker-dealer. The filings also state that each product is expected to charge a 0.95% management fee.
Earlier this year, CNF reported that Trump Media planned a new cryptocurrency distribution for shareholders in partnership with Crypto.com, with the token expected to run on the Cronos network. CEO Devin Nunes noted that the program is a shareholder reward, with token holders potentially eligible for added benefits.
Bitcoin ETF’s Continued Outflows
The Bitcoin and Ether fund is designed to track the combined performance of the two largest cryptocurrencies by market capitalization. The structure also aims to capture staking rewards generated by Ether. The separate Cronos Yield Maximizer ETF will follow the performance of CRO, the native token of Crypto.com’s Cronos blockchain, and include staking income.
The filings arrive as US spot Bitcoin ETFs report a sustained period of net withdrawals. Data from SoSoValue shows four consecutive weeks of net outflows, with about $360 million withdrawn in the latest week.
Several large daily withdrawals were recorded during that period. SoSoValue data lists outflows of $817.87 million on Jan. 29, $509.70 million on Jan. 30, and $544.94 million on February 4. Inflows on positive days were smaller in comparison, including $561.89 million on 2nd February and $371.15 million on 6th February.
Additional inflow sessions included $166.56 million on February 10 and $145.00 million on February 9, while Friday saw $15.20 million in net inflows. Trump Media has expanded its crypto-related activity over the past year through partnerships and product plans. Last year, the company announced a deal with Crypto.com and Yorkville America Digital to launch “Made in America” ETFs that combine digital assets and traditional securities, including energy.
Last year, Trump Media partnered with Crypto.com to form a joint treasury entity focused on accumulating CRO. As we reported, the plan began with an initial purchase of about 684.4 million CRO valued at roughly $105 million.
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