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.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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