Trump Media Teams Up with Crypto.com to Launch ETFs and ETPs

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Trump Media, the parent company of Truth Social, has teamed up with Crypto.com to launch a series of ETFs and ETPs. These products will include digital assets like Bitcoin (BTC) and Crypto.com Coin (CRO), along with other securities focused on American industries, such as energy. The launch is expected later this year, pending regulatory approval.

Crypto.com Powers Trump’s New ETFs

The ETFs, will be available through Crypto.com’s broker-dealer Foris Capital. Crypto.com will provide the backend technology, custody solutions, and crypto supply. Notably, this is just the latest in a series of crypto projects backed by Trump and his family. They’ve released several NFT collections, memecoins, and even their own DeFi protocol, World Liberty Financial (WLFI).

The funds are expected to launch later this year, pending approval, and are expected to be available worldwide, including in the U.S., Europe, and Asia, through existing platforms and brokerages.

Cronos Climbs 18%, Truth Social Shares Up 10.5%

Despite challenges, Cronos climbed over 18% due to market excitement and momentum. In December, Cronos hit a yearly high after reports of a meeting between the Crypto.com CEO and the U.S. President, along with a legal resolution with the SEC. However, CRO has since dropped 30%. Today’s news has brought new liquidity to the altcoin. Shares of the company behind Truth Social rose 10.5% after hours on Monday.

TMTG CEO Devin Nunes expressed excitement about partnering with Crypto.com and Yorkville America to launch investment products that focus on supporting American businesses, innovative technologies, and crypto ventures. These funds aim to strengthen the U.S. economy without being influenced by political agendas.

The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs are part of TMTG’s financial services strategy. Trump Media launched Truth.Fi, its new financial services brand, in January, capitalizing on the crypto boom. The company plans to invest up to $250 million through Charles Schwab to diversify its $700 million-plus holdings.

In February, Trump Media applied for trademarks on six investment products targeting bitcoin and U.S. manufacturing and energy sectors.