Trump Media has partnered with Crypto.com to launch a series of ETFs and ETPs, featuring digital assets and securities focused on American industries.
Trump Media and Crypto.com Partnership
Trump Media, the parent company of Truth Social, has teamed up with Crypto.com to launch a series of ETFs and ETPs. These financial 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.
Plans and Products
Crypto.com will provide 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 be available worldwide, including in the U.S., Europe, and Asia, through existing platforms and brokerages.
TMTG's Financial Strategy
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. Kris Marszalek, co-founder and CEO of Crypto.com, shared that he is proud of the partnership and excited to support the launch of these new ETFs, including the first-of-its-kind basket of tokens, featuring CRO. The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs, which TMTG plans to invest in using its own cash reserves, are part of TMTG's financial services and FinTech strategy. TMTG intends to invest up to $250 million, which will be managed by Charles Schwab.
The launch of ETFs and ETPs by Trump Media and Crypto.com reflects a move toward integrating cryptocurrencies with traditional financial instruments, underscoring the role of innovative technologies in supporting the economy.
