Trump Media and Technology Group Corp. said Monday it has signed a non-binding agreement to partner with Crypto.com to launch a series of exchange-traded funds and exchange-traded products through the company’s Truth.Fi fintech brand. The ETFs are expected to comprise digital assets and securities with a “Made in America focus” spanning diverse industries, according to a press release. Singapore-based Crypto.com will support the backend technology, provide custody and supply the cryptocurrencies for the ETFs, which are anticipated to include a unique ETF basket of cryptos incorporating Bitcoin, Cronos and other crypto assets.
The funds, which are planned to launch later this year subject to regulatory approval, will be made available through Crypto.com’s broker-dealer, Foris Capital US, and are expected to be widely available internationally, including in the U.S., Europe and Asia, across existing platforms and brokerages. Trump’s media company launched Truth.Fi in January, not long after President Donald Trump took office. Trump Media also operates the right-leaning social media platform Truth Social and the streaming platform Truth+.
“We’re excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies and cutting-edge technologies,” TMTG CEO and Chairman Devin Nunes said in the release. “We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing. Investors will finally have options that adhere to their principles and that support superior U.S. companies precisely focused on their core businesses.”
The ETFs are planned to launch alongside a slate of Truth.Fi SMAs. The ETFs and SMAs are part of a TMTG financial services and fintech strategy using up to $250 million to be custodied by Charles Schwab.”We are proud to partner with Truth Social (DJT) and Yorkville America, and to support the launch of these new ETFs, including the first of its kind basket of tokens including CRO,” said Kris Marszalek, co-founder and CEO of Crypto.com. “These ETFs will give consumers more options from a brand with a loyal following.”
Monday’s announcement of Trump Media’s plans to launch ETFs and ETPs follows a spate of other Trump-related crypto news. Recently, Trump-backed World Liberty Financial refuted claimsthat it held talks with Binance to, among other things, buy a stake in Binance’s U.S. arm. Earlier this month, President Trump signed an executive order to establish a Strategic Bitcoin Reserve, which will hold the world’s largest cryptocy as a store of value akin to a digital Fort Knox, as well as a digital asset stockpile.
Last week, a SPAC managed by executives closely linked to Trump Media & Technology Group said in a filing it plans to raise $179 million to fund its acquisition of a company in the crypto and blockchain, data security or dual-use technology sectors. Over the weekend, President Trump made a rare reference to his Official Trump memecoin in a Truth Social post, calling it “the Greatest of them all.” Last month, Rep. Sam Liccardo (D-Calif.) introduced a bill to stop politicians from issuing memecoins.
U.S. Senator Chris Murphy (D-Conn.) is calling for legislation to ban prediction markets that allow traders to bet…
The U.S. Internal Revenue Service (IRS) has proposed a new rule that would allow cryptocy brokers to deliver…
Global fintech powerhouse Revolut has filed an application for a U.S. banking license, a move that would allow…
A man accused of stealing tens of millions of dollars in cryptocy from U.S. government…
Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — has taken a strategic…
A new study from the Bitcoin Policy Institute (BPI) found that leading artificial intelligence models overwhelmingly favor Bitcoin…