XRP News Today: Cronos (CRO) surges 17% after Trump Media files for crypto ETF

Trump Media and Technology Group (TMTG) has recently filed for a new crypto-focused exchange-traded fund (ETF) under its Truth Social brand, sending ripples through the crypto markets. The proposed ETF, named the Truth Social Crypto Blue Chip ETF, includes a diversified selection of digital assets: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO), and XRP. This ETF is set to be one of the first to bundle top-tier crypto assets into a single investment vehicle, with a 70% allocation to Bitcoin and 15% to Ethereum, reflecting their dominance in the market. The smaller allocations to Solana, Cronos, and XRP have garnered significant attention, each representing 8%, 5%, and 2% respectively.

The market has already begun to respond to the ETF filing, with varying reactions from the different assets. Cronos (CRO), the native token of the Crypto.com ecosystem, saw an immediate and dramatic surge in price following the announcement. Within an hour of the ETF filing going public, CRO jumped by more than 17%, outperforming all other assets mentioned in the disclosure. This surge was not entirely unexpected given CRO’s relatively low market cap and the sudden influx of investor interest. The deep integration between CRO’s issuer, Crypto.com, and the ETF itself, where Crypto.com will serve as the custodian and act as the fund’s staking and liquidity provider, has given traders a tangible reason to anticipate greater utility, visibility, and demand for the token. Although CRO corrected slightly after its sharp climb, it has held onto much of the gains and continues to trade near its highest level in several months. Market participants now view CRO’s inclusion as more than symbolic—it’s a signal that the asset could finally step into a more institutional spotlight.

While Cronos exploded in value, Solana (SOL) showed more restraint in its price action, despite holding the third-largest allocation in the proposed ETF. SOL hovered just above the $150 mark, staying within its recent price range and only posting a modest 0.9% gain on the day of the announcement. Traders appear to believe that the news had already been priced in, especially after recent headlines involving Solana spot ETF applications and growing institutional attention to its ecosystem. Even without a breakout, Solana’s 40.8% gain over the past three months demonstrates strong momentum, which continues to attract long-term holders. Its relative stability in response to the ETF news could also indicate confidence from existing investors rather than a lack of interest.

XRP’s reaction to the ETF announcement has been noticeably underwhelming, with the token declining by over 2% in the 24 hours following the news. This response surprised some traders who had anticipated a bump similar to what CRO experienced, given that XRP was also included in the ETF’s asset basket. However, lingering regulatory uncertainties surrounding Ripple, despite some legal victories, may have tempered enthusiasm for XRP’s short-term outlook. While the token has gained more than 400% over the past year, the lack of a strong ETF-driven rally suggests that investors are cautious about its next chapter.

In summary, the proposed Truth Social Crypto Blue Chip ETF has sparked varied reactions among the included digital assets. Cronos (CRO) experienced a significant surge, driven by its deep integration with the ETF and the sudden influx of investor interest. Solana (SOL) remained relatively stable, reflecting a belief that the news had already been priced in and indicating confidence from existing investors. XRP, on the other hand, underperformed, likely due to lingering regulatory uncertainties. The overall response highlights the diverse market sentiments towards different crypto assets in the context of the ETF announcement.