Cronos (CRO), the native token of the Crypto.com blockchain, surged nearly 18% to $0.095 Wednesday following news that it could be included in a new exchange-traded fund (ETF) backed by Trump Media & Technology Group.
The proposed ETF, which is awaiting approval from the U.S. Securities and Exchange Commission, would track a basket of five cryptocurrencies: bitcoin (BTC), ether (ETH), solana (SOL), XRP (XRP) and cronos (CRO). If approved, CRO would make up 5% of the fund’s weighting—its smallest component, but still a notable addition for a token that’s rarely featured in major institutional products.
That news sent CRO soaring from about $0.08 Tuesday morning, outpacing the broader crypto market. The CoinDesk 20 Index, which tracks the top digital assets, rose just 2.8% over the same period.
While the bump is significant, CRO remains a shadow of its former self. The token peaked at $0.69 in November 2021 during the last bull market. It saw a short-lived revival in December 2024, rising to $0.21 amid a market rally that followed Donald Trump’s election to a second term. That rally, however, faded fast.
The ETF development has brought new attention to CRO, a token that powers Crypto.com’s ecosystem including its exchange and payments app. Still, the token has a long climb to reach its former highs. Traders appear to be reacting to the possibility of increased institutional exposure, but the SEC has yet to approve the fund.
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