Trump Media to partner with Crypto.com to launch ETFs

Trump Media and Technology Group (DJT) announced 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 Truth.Fi brand. “The ETFs, made available through Crypto.com’s broker dealer Foris Capital US LLC, are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy. 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 cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets. Planned to launch later this year subject to definitive agreement and regulatory approval, the funds are expected to be widely available internationally including in the United States, Europe, and Asia, across existing platforms and brokerages,” the company stated. TMTG CEO and Chairman Devin Nunes said, “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. 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 Separately Managed Accounts. The ETFs and SMAs, both of which TMTG is planning to invest in via its own cash reserves, are part of a TMTG financial services and FinTech strategy using up to $250M to be custodied by Charles Schwab (SCHW).