Truth Social, the social media brand associated with former President Donald Trump, has filed applications with the U.S. Securities and Exchange Commission (SEC) seeking approval for two cryptocurrency exchange-traded funds (ETFs). One ETF focuses on Bitcoin and Ethereum, while the other targets Kronos staking. This move reflects Truth Social’s intention to expand its presence into digital asset investments. ETFs provide investors with an opportunity to gain exposure to cryptocurrencies like Bitcoin and Ethereum without direct ownership, offering a regulated and convenient way to benefit from market fluctuations. The Kronos staking fund aims to generate additional income through staking, a popular method where crypto holders use their coins to support network security and operations in exchange for rewards. These applications come amid increasing calls for more structured regulatory frameworks in the cryptocurrency market. SEC approval is mandatory before any ETF can be launched, as it helps enhance investor confidence and market transparency. Having previously established itself in social media, Truth Social now seeks to enter the cryptocurrency sector, potentially opening new investment opportunities in the U.S. crypto market if approved. Investors should note that crypto ETFs carry market volatility and regulatory risks, but Truth Social’s initiative underscores the growing significance of cryptocurrencies in the financial ecosystem.
Source: coindesk
