Crypto News

CRO Soars Following Trump Medias Crypto Partnership with Crypto.com

In a major development that has caught the eye of both the cryptocurrency and conventional financial sectors, the native token of Crypto.com, CRO, skyrocketed more than 30% following news that Trump Media, the parent company of Truth Social, is in talks with the popular cryptocurrency exchange to create and launch a series of crypto-based exchange-traded funds (ETFs).

The development sent a ripple through the cryptocurrency community, underscoring an increasingly apparent blending of the digital asset world with traditional financial products.

The intended partnership between Trump Media, which is headed by the former U.S. president Donald Trump, and Crypto.com is about forging a new line of investment products that are half digital assets and half traditional securitieswith a decided tilt toward industries in the USA. The two companies plan to seek partners among big international banks and law firms. They expect to roll out a version of ETFs, or exchange-traded funds, and possibly ETPs, or exchange-traded products, later this year, pending regulatory approval. Their offering is likely to be a mix of big-name cryptocurrencies, with some, like Bitcoin ($BTC), expected to be the core holdings.

A New Era for Crypto-Based ETFs and ETPs

This collaboration is far-reaching in its impact, and by far the most intriguing aspect is what it means for not just the cryptocurrency market but also the larger financial industry. With the announcement of the partnership, the two firms plan to launch what may be the first crypto-backed ETFs and ETPs.

For years, the widespread adoption of crypto ETF and ETP products has been an oft-promised but rarely delivered aspect of the development of the digital asset marketplace.

Despite some alternative investment products making their way to market (e.g., Grayscale Bitcoin Trust), investors bypassing the path of least resistance (i.e., the use of direct-to-consumer crypto trading platforms) have largely remained on the sidelines. Partnerships like the one between Trump Media and Crypto.com could help expand the universe of crypto investment opportunities available to everyday investors.

A company press release indicates that the partnership of Trump Media and Crypto.com will shine a spotlight on American industriesespecially energy. This Made in America initiative supports the stated mission of Trump Media to highlight domestic industries and to create investment opportunities in the United States. Along with traditional stock market investments, the products of this partnership are likely to feature cryptocurrencies, providing even more investment diversification. Overall, this collaboration may not achieve greater significance than the political optics it generates.

Trump Medias Growing Influence in the Financial Sector

The latest venture of Trump Media into the world of crypto-based ETFs and ETPs represents yet another step in the companys push to make an influence in various industries. Weve already seen the considerable impact that our social media platform, Truth Social, has had, and through it, weve been able to reach conservative audiences and media figures. Now, with our partnership with Crypto.com, were looking to finance our influence and create the next generation of products for the next generation of investors.

This partnership, not surprisingly, reflects the uptick in interest among investorsboth big and smallin cryptocurrency and blockchain technology. In what seems like a futuristic move, Trump Media is joining forces with Crypto.com, putting the company at the leading edge of an increasingly popular (if, at times, also controversial) investment space. Only time will tell the real impact of this partnership on the companys bottom line.

CROs Market Surge and Whats Next

When the partnership was announced, an immediate spike in the value of Crypto.coms CRO token was seen, with it rising more than 30%. This jump appears to be a direct response to the overall increased optimism surrounding the partnership. Indeed, if the ETF gets approved, the broader potential for crypto-backed ETFs and ETPs to reshape the financial landscape becomes a more real possibility.

The rise of CRO also emphasizes growing confidence in Crypto.com as a top player in the cryptocurrency market. The exchange has made a big push to broaden its offerings and partnerships, and this latest initiative further entrenches it as a key force within the industry. The announcement has pushed not just the CRO price but also the Crypto.com profile up in the rapidly developing intersection of traditional finance and decentralized finance.

The factors on which this partnerships success hinges are several, and they range from necessary regulatory approvals to necessary market receptions. If the products get launched and do well, they could represent the dawn of an era when digital assets arent just a kind of modern-day gold rush but are actually incorporated into sustainable investment structures. If we get ETF-like products for crypto, backed by actual crypto instead of futures, that could bring in a wave of institutional and retail investors.

To conclude, a series of crypto-based ETFs and ETPs launched by Trump Media in partnership with Crypto.com marks a hefty stride toward merging digital assets with traditional finance. As calls for regulated crypto products grow louder, this collaboration could be a pivotal moment in integrating the virtual world with the real one.

Expect the launch of these products later this year, with regulatory approval as the key catalyst.

This isnt financial advice.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Read more: https://nulltx.com/cro-soars-following-trump-medias-crypto-partnership-with-crypto-com/

Text source: NullTX

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories