USDWeekly Crypto Funds Recap: Trump Media, Fidelity, BlackRock, 21Shares & More
Trump Media Partners with Crypto.com to Launch "Truth.Fi" Crypto ETFs
Trump Media and Technology Group Corp. (Nasdaq: DJT) has partnered with Crypto.com to create a suite of exchange-traded funds (ETFs) under the Truth.Fi brand, aiming to enter the digital asset market. This initiative will combine U.S. growth sectors and cryptocurrencies, including Bitcoin and Cronos (CRO), with a focus on energy and innovation. The ETFs will be accessible internationally through Crypto.com’s broker dealer, Foris Capital US LLC. TMTG’s CEO, Devin Nunes, described the products as “America First investment options,” prioritizing investments in U.S. firms rooted in innovation while avoiding what he terms “woke nonsense.” The company intends to invest up to $250 million for the strategy, with funds held by Charles Schwab. Following the announcement, Trump Media shares jumped nearly 9%, while CRO surged over 30%, reflecting strong investor interest in the new financial products, set to enhance TMTG's ambitions in fintech beyond social media.
Cboe BZX Files for Fidelity Solana Fund as Race for SOL ETFs Intensifies
Cboe BZX Exchange has filed a 19b-4 form for the "Fidelity Solana Fund," marking Fidelity's significant entry into the Solana investment space. This move comes as various asset managers, including Franklin Templeton, Grayscale, Canary Capital, and VanEck, vie for a share in the Solana ETF market. Recently, Volatility Shares launched the first ETFs linked to Solana's price via futures contracts. Fidelity, a major player in the asset management sphere, has previously established Bitcoin and Ethereum ETFs and is focused on expanding its digital assets ecosystem. A company spokesperson noted a growing interest among its clients in digital assets, emphasizing their commitment to delivering diverse investment solutions and educational resources. Solana's price experienced a notable increase, rising to $145 on March 25, 2025, reflecting the heightened interest and activity in the cryptocurrency market, particularly in the emerging sector of crypto ETFs.
BlackRock Launches European Bitcoin ETP Following U.S. Success
BlackRock has launched a Bitcoin exchange-traded product (ETP) in Europe, following the success of its U.S.-listed iShares Bitcoin Trust, which has grown to $48 billion since January 2024. The new European product, the iShares Bitcoin ETP, will trade under the ticker IB1T on Germany's Xetra and Euronext Paris, and BTCN on Euronext Amsterdam. To attract investors, BlackRock will waive 10 basis points, lowering the expense ratio to 0.15% until the year's end. Despite Europe’s smaller crypto ETP market, valued at $13.6 billion, BlackRock’s offering is competitive with an eventual expense ratio of 0.25%. Physical Bitcoin held in custody by Coinbase ensures security. Notably, digital asset investment products saw $644 million in inflows recently, marking a shift in investor sentiment, with Bitcoin leading the recovery by attracting $724 million in inflows after a prolonged downturn. Ethereum ETFs, in contrast, faced outflows of $103 million.
Fidelity Files for Ethereum-Based Tokenized Treasury Fund “OnChain,” Launch Expected May 30
Fidelity Investments has filed to launch a tokenized version of its Fidelity Treasury Digital Fund, named "OnChain," on Ethereum, scheduled for May 30, pending regulatory approval. This new offering aims to enhance transparency and verifiable tracking of transactions associated with the $80 million fund, which primarily consists of US Treasury bills. While OnChain will provide a secondary blockchain record for transactions, Fidelity will maintain traditional book-entry records as the official ownership ledger. The current market for Real-World Asset (RWA) tokenization in Treasury products is valued at $4.78 billion, with BlackRock's USD Institutional Digital Liquidity Fund leading at $1.46 billion. Over $3.3 billion worth of RWAs are tokenized on the Ethereum network, which is favored by institutional asset managers for its decentralization and security benefits. Fidelity may look to expand OnChain to other blockchains in the future as interest in tokenization grows.
21Shares Launches Bitcoin, Solana, and XRP ETPs Amid Growing Altcoin Rally Anticipation
21Shares has launched three new crypto exchange-traded products (ETPs) on Nasdaq Stockholm: Bitcoin Core (CBTC), Solana Staking (ASOL), and XRP (AXRP), in response to increasing crypto demand in Europe. With a management fee of just 0.21%, the Bitcoin Core ETP offers low-cost exposure to Bitcoin. The Solana ETP combines exposure to Solana with staking rewards, targeting investors interested in the gaming, DeFi, and identity sectors. The XRP ETP provides direct access to Ripple's asset, facilitating entry into the cross-border payments market. This launch comes as investor optimism grows for an altcoin rally, spurred by rising altcoin ETF applications and a favorable regulatory environment following the U.S. SEC's perceived softening stance. The crypto market cap increased by 3.5% recently, with notable gains in XRP and Solana, highlighting a potential shift in market dynamics favoring altcoins over Bitcoin dominance.
BlackRock’s BUIDL Fund Surges to $1.7B, Expands to Solana and Seven Blockchains
BlackRock's tokenized BUIDL Fund has achieved a new milestone, reaching $1.7 billion, following an addition of $800 million in just two weeks. This fund has now launched on the Solana blockchain, expanding its operations across seven different blockchain networks, in collaboration with Securitize. The significant capital influx indicates a notable trend of institutional investment shifting towards on-chain assets. Additionally, the total value of tokenized real-world assets has exceeded $10 billion, reflecting the growing movement in the financial sector toward digital finance and tokenization, signaling increasing acceptance and integration of blockchain technology in traditional finance.
HashKey and Bosera Launch World's First Tokenized Money Market ETFs in April 2025
HashKey Group has partnered with Bosera to launch the world’s first tokenized money market ETFs, set to debut in April 2025. These ETFs, the Bosera HKD and USD Money Market ETFs, have been approved by the Hong Kong Securities and Futures Commission (SFC) and are part of Hong Kong’s Project Ensemble Sandbox, which focuses on asset tokenization. This innovative initiative combines traditional finance with blockchain technology to enhance investment efficiency, transparency, and security. Designed to provide low-risk investment options, these tokenized ETFs will enable direct access to high-quality money market assets, acting as a "yield stabilizer" for DeFi and virtual asset investors. HashKey will manage the tokenization process on HashKey Chain and distribute the ETFs via HashKey Exchange, Hong Kong's largest licensed platform. CMB Wing Lung and BOCI-Prudential Trustee Limited will serve as custodians for the ETFs, marking a significant step towards integrating traditional finance with Web3.
Nasdaq Files for Grayscale’s Avalanche Trust ETF; Gelato Launches Blockchain-as-a-Service
On March 28, 2025, Nasdaq submitted a 19b-4 filing with the SEC to list and trade shares of Grayscale's proposed Avalanche Trust ETF, a spot crypto ETF aiming to provide institutional investors exposure to AVAX, Avalanche’s native token. Grayscale’s strategic push comes amid a wave of crypto ETF applications targeting diverse assets beyond Bitcoin and Ethereum. The move reflects growing institutional demand for diversified digital asset products. In parallel, Gelato launched a blockchain-as-a-service platform on Avalanche, allowing enterprises to create sovereign blockchains with rapid deployment, low cost, and full interoperability via Avalanche’s InterChain Messaging (ICM). Tailored for sectors like fintech and gaming, it removes previous technical barriers, offering AWS-level ease for blockchain rollouts. Gelato’s service supports dynamic fees and eliminates the need for AVAX staking. With over $1.1 billion total value locked, Avalanche remains the 10th largest blockchain, and the integration with Gelato further strengthens its institutional readiness.
This article has been refined and enhanced by ChatGPT.
