Cryptocurrency exchange Crypto.com is gearing up to launch a Cronos (CRO) spot exchange-traded fund (ETF) in 2025.
The company has already begun expanding its platform’s offerings in the first quarter of the year.
Cronos Spot ETF in 2025?
According to Crypto.com’s released roadmap, the ETF submission is scheduled for the fourth quarter of 2025. Nonetheless, specific details about the proposed ETF have yet to be disclosed.
The push for a Cronos ETF comes as institutional interest in crypto investment products soars. Following the success of Bitcoin ETFs, a wave of new filings has emerged, with institutions eager to capitalize on the growing momentum.
“So far, so good: Spot bitcoin ETFs pulled in $4.94 billion in January, which annualizes to ~$59 billion. For context: In all of 2024, they brought in $35.2 billion,” Matt Hougan, CIO of Bitwise, posted on X (formerly Twitter).
Additionally, with a more favorable regulatory environment under President Donald Trump’s administration and Gary Gensler’s exit from the SEC, filings for altcoin ETFs have increased significantly.
Notably, issuers have also submitted proposals for meme coin ETFs. These include filings from Rex Shares, Tuttle Capital, and Bitwise.
Meanwhile, in the lead-up to the filing, Crypto.com plans to introduce a range of new services, including stock trading, stock options, and ETFs, beginning in the first quarter.
Additionally, the company is set to roll out new banking features, such as personal multicurrency accounts and cash savings accounts, further expanding its financial services ecosystem. The exchange also plans to release a new stablecoin by the third quarter.
Crypto.com has already implemented five of the six planned products from its Q1 roadmap, including the early launch of institutional custody services. In fact, on January 27, Crypto.com’s Malta subsidiary received a Markets in Crypto-Assets Regulation (MiCA) license from the Malta Financial Services Authority (MFSA).
As per the announcement, this made Crypto.com the first major global crypto service provider to secure the full MiCA license. This followed the company’s earlier in-principle approval of its MiCA license.
“Securing a MiCA licence has been a major priority for us in recent years, and receiving this approval further cements our continued commitment to being the most compliant and regulated crypto platform globally,” said Crypto.com’s President Eric Anziani.
This regulatory achievement aligned with Crypto.com’s broader expansion strategy. Despite these developments, the price of CRO has been in a sustained downtrend since early December.
Over the past month, the token has declined by 35.7%, erasing a significant portion of its previous gains.
At press time, CRO was trading at $0.10, marking a 3.6% drop in the past 24 hours. The persistent downward momentum suggested continued selling pressure in the market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Kommentar hinterlassen