Trump Media Partners Crypto.com for Digital Asset ETFs

Trump Media & Technology Group, the entity behind the social media platform Truth Social, has announced a strategic partnership with Crypto.com and asset manager Yorkville America Digital. This collaboration aims to introduce a range of digital asset-focused exchange-traded funds (ETFs) and related investment products under the "Truth.Fi" brand.

The ETFs will offer investors exposure to both digital assets and "Made in America" securities across various sectors, including energy. Subject to regulatory approval, these products are anticipated to be available later this year through existing brokerage platforms to investors in the U.S., Europe, and Asia.

This initiative marks a significant expansion of Trump Media and Technology Group's financial offerings. The company had previously applied to trademark six investment products under the Truth.Fi brand, which included ETFs and separately managed accounts focused on American manufacturing, energy independence, and Bitcoin investments.

TMTG Chairman and CEO Devin Nunes expressed enthusiasm about the partnership, stating that it is a crucial step in the company's plan to enter the financial services industry. "We’re gratified to work with great partners… and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth," Nunes said in the press release.

Crypto.com CEO Kris Marszalek emphasized the deal as a testament to the company’s ability to bridge traditional and digital finance. Yorkville CEO Troy Rillo described the agreement as "a significant milestone" that aligns with the firm’s America-First focus.

Crypto.com’s broker-dealer subsidiary, Foris Capital US LLC, will handle the distribution of these ETFs. Additionally, TMTG plans to invest up to $250 million of its own capital into the new offerings, with custody provided by Charles Schwab.

The launch of these ETFs is expected to provide investors with a unique opportunity to gain exposure to both traditional and digital assets, leveraging the strengths of both Trump Media and Technology Group and Crypto.com. This partnership underscores the growing interest in digital assets and the potential for significant growth in the financial services industry.